Malawi: COMSIP Hands Over K5.6 Million Warehouse in Dedza

Dedza — Community Savings and Investment Promotion (COMSIP) Cooperative Union Limited on Monday handed over a K5.6 million worth of warehouse to Dzalanyama COMSIP Cooperative Society Limited in Dedza.

Speaking during the handover ceremony that took place in Group Village Headman (GVH) Kunjawa in Traditional Authority Kachere, secretary for the Dzalanyama cooperative, Goodwell Divani said the warehouse would help them realise more profits.

"We used to have challenges in keeping our crop produce due to lack of storage space. This warehouse will help our cooperative make more profits as we will be able to produce and buy more crops because we have a place where to store them," Divani said.

Divani said the cooperative, which comprises 63 members of which 42 are women, currently has got MK4, 992,490 and they expect it to grow to MK8.2 million by the end of this year.

Speaking in a separate interview, Chief Economist in the Department of Economic Planning and Development, Bessie Msusa said was pleasing to note that as MASAF 4 is about to phase out this year, beneficiaries of the programme sustain themselves through the money they save and loans they access.

COMSIP Cooperative Union, with funding from the World Bank through the Local Development Fund (LDF) mobilized the group in 2010.

See What Everyone is Watching

More From: Malawi News Agency

Don't Miss

AllAfrica publishes around 600 reports a day from more than 150 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.