United Civil Servants Sacco has posted K11 billion profit in 2024, up from last year’s K7 billion.
Speaking at the Sacco’s end-of-year gala dinner in Mzuzu City on Saturday, United Civil Servants Sacco Chief Executive Officer Francis Waliwa said the Sacco’s assets grew from K6.9 billion in 2021 to K46 billion.
He said projections pointed to a further growth in the assets to K79.0 billion by next year, in line with the Sacco’s five-year strategic plan whose implementation period ends in 2026.
He said youthful members were driving the Sacco’s growth in profits, assets and membership, which stands at 82,135 from last year’s 65,000.
Waliwa said the firm had, in recent years, also invested heavily in corporate social responsibility interventions.
On his part, Nico Life Chief Executive Officer Wise Chigudu hailed Sacco for its growth trajectory.
“As we are working with a larger community, we will also be able to improve their financial literacy.
“There are a lot of people who are unbanked and uninsured. We need to reach them with financial products,” he said.
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