United Civil Servants (UCS) Savings and Credit Cooperative (Sacco) has emphasised the need for individuals to ensure prudent management of their finances through a balance of budgeting before spending, saving and investing from their income.
This came out during a financial management training workshop for business and economics journalists which the Sacco held on Wednesday in Blantyre.
UCS Sacco Chief Executive Officer Francis Waliwa said imparting such knowledge in journalists is crucial as they will be able to use such messages in their line of duty.
He further said such trainings are offered to their members so that they are able to generate and grow their wealth through the cooperative.
“We expect that these journalists will, at one point, become members of our Sacco and, therefore, employ these virtues of prudent financial management. We are growing as a cooperative, moving from an asset base of K28 billion in 2023 from K16 billion the previous year, representing a 67 percent growth,” Waliwa said.
One of the journalists who participated in the event, Alex Banda of Zodiak Broadcasting Station, lauded the Sacco for the initiative.
“This is commendable because it does not only benefit us as individuals in gaining knowledge about financial management, but also shape the messages that we share with the public which goes a long way in ensuring economic development,” Banda said.
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