By Damiano Thengo
Nkhotakota, November 28, Mana: Nkhotakota District Council Economist John Manda has urged Social Cash Transfer Programme (SCTP) beneficiaries to form strong and sustainable Savings loan groups that will assist in transforming their households and communities.
Manda said this at Khwapu Primary School in Nkhotakota district on Wednesday, during a weeklong GIZ-funded campaign on the benefits of savings and loan groups and other financial literacy benefits to beneficiaries of resilience programmes in the district.
He said the separate package that they contribute within Saving loan groups is used to support group members during disaster.
Manda therefore asked more male SCTP beneficiaries to join saving loan groups to achieve equal financial access between males and females.
H said embracing a culture of saving and learning entrepreneurial skills is critical to improve one’s economic status in life.
"We are encouraging them to join saving loan groups to have a vision for their households, as they might have plans to buy a bicycle, some livestock, or to build a house. So it is important for them to join these groups,” said Manda.
Ministry of Gender Poverty Reduction and Social Protection Division Economist, Elicia Limbe revealed that most of the previous SCTP beneficiaries failed to succeed as they lacked effective strategies such as joining saving loan groups that would have guided them to accomplish their vision.
He added that this is why the ministry is advocating for the measures to make sure beneficiaries are guided, equipped, and placed in the best possible environment to succeed.
Alice Chimsewu one of the beneficiaries from Group Village Head Benga 2, said she ventured into livestock farming after joining the savings group and this has greatly helped the family to support children in school.
Chimsewu however asked government to consider increasing the package in order to match with the high cost of living caused by the devaluation of the local currency.
She admitted the importance of joining saving loan groups saying through this groups have access to borrow loans from financial institutions like banks and have access to numerous linkages of other groups.
