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Polymed Savings and Credit Cooperative (Sacco) says membership growth and sound investments have helped the organisation post a K62 million surplus for the year ending December 31 2021. During the same period last year, the Sacco posted a K28 million surplus. Mkomadzinja: We have grown the membership and doubled profitability…

PolyMed Savings and Credit Cooperative (Sacco) has posted a K40 million surplus in the year ended December 31 2018, a 41 percent drop from the previous year’s K68.7 million. Speaking during the 22nd Annual General Meeting in Blantyre on Tuesday, the Sacco’s chairperson Albu Mkomadzinja attributed the drop to a…

High levels of delinquency have seen Blantyre-based Polymed Sacco writing off K28.9 million in bad debts, the institution said. Speaking during the Sacco’s annual general meeting held in the commercial capital, Polymed Sacco chairman, Mavuto Chiwoza, said the bad debts, some dating as far back as 2012, have been having…

Polymed Savings and Credit Cooperative (Sacco) has achieved a K68.7 million surplus in the year ended December, a 1 335 percent rise from the previous year’s K4.7 million, financial results show. Addressing shareholders during the Polymed Sacco’s 21st Annual General Meeting (AGM) in Blantyre on Saturday, board chairperson Albu Mkomadzinja…

Polymed, a consortium of savings and credit cooperatives (Sacco) from several institutions in Blantyre, is soon expected to cap off a profitable year by going online.This was revealed during its 18th annual general meeting (AGM) held at College of Medicine (CoM) on Friday. Polymed is growing: The future looks good…

Attentive members of PolyMed Sacco at their AGM in Blantyre Attract or sink. This is the message the Malawi Union of Savings and Credit Cooperatives (Muscco) has nailed home to Savings and Credit Cooperatives (SACCOs) in the country. They have to work hard to attract more members to boost their…

Despite the economic challenges that rocked the country’s macro-economic environment in 2011, Polymed Sacco still beat the turbulence and achieved remarkable results with total assets recording 58 per cent growth. Polymed Sacco assets grew from K100 million (about $400 000) to K158.5 million (about $634 000). Their income collections have…