Financial steadiness goes beyond acquisition of money but rather investing. COMSIP saw it vital to join Ministry of Gender, Children, Disability and Social Welfare in training social cash transfer beneficiaries in business management, financial savings, issues of climate change and health.
Addressing Mtukula pakhomo beneficiaries who are also benefiting from COMSIP cooperative union in Dedza district, Minister responsible Mary Thom Navicha said the government has plans to increase the amount that people are receiving under Mtukula Pakhomo Program.
“The government has increased funding for the Mtukula Pakhomo program from 1.55 billion to 2.45 billion; we are committed to alleviate poverty in communities. We are also upgrading to e-payment transfers from manual transfers.
We want to instill the investing culture in the beneficiaries that is why we have allowed COMSIP to come in and train the beneficiaries in business and financial management,” explained Navicha
Navicha subsequently commended the beneficiaries for putting the money they acquire under Mtukula pakhomo program to its best use.
“We have witnessed from the beneficiaries we have interacted with that the program is indeed curbing poverty levels in the communities. We have seen how village savings is helping to build up people’s lives as most of them are now able to send their children to school and most households are transforming from mad houses to brick houses and from grass thatched houses to iron sheet houses,” added Navicha.
In his remarks the Chief Executive Officer for COMSIP Mr. Tenneson Gondwe said “So far we have enrolled 123000 beneficiaries that are receiving transfers in different phases. When we go to the villages we see a lot of improvements to people’s livelihoods especially out of the linkages that have been created.
We put the beneficiaries in a cooperative union, as COMSIP we are there to provide capacity building in terms of savings and investment so the people agree to work in groups and they are trained in financial literacy management, how to manage businesses and when the group grow some of them can be linked to financial institutions, the end product is that we should also come up with cooperatives,” Gondwe said.
COMSIP is an organization that receives funding from the government through world bank via Local Development Fund and National Local Government Council. It started providing finances for Mtukula Pakhomo program since 2015 in 11 districts namely Dedza, Nkhatabay, Karonga, Rumphi, kasungu, Dowa, Ntchisi, Nkhotakota, Mchinji, Chiradzulu and Blantyre.