I am retiring happily because of Sacco – Chabwera

Edward Chabwera received a special recognition at the recent annual general meeting held on 6 May 2016 for Dwasco Sacco for being outstanding in saving and loan servicing throughout his membership. He also received a token  of appreciation in form of a bicycle.  Dwasco Sacco Newsletter caught up with him to find out more.

Q: Who is Edward Chabwera?

“I was born sixty years ago. I come from Chabwera village, Traditional Authority Malomo in Ntchisi. I’m married and have five children. I’ve worked with Illovo Sugar Company since 1990 at Ukasi section”

Q: Tell us about your Sacco membership.

“I joined Dwasco Sacco in November 1995 and I was one of the first members.  I have seen the Sacco growing from a few hundreds to thousands of members”

Q: What have you achieved with Dwasco Sacco?

“Amongst notable achievements from the proceeds of the loans I got from the Sacco are:  purchase of two vehicles, opening of a grocery and hardware shops, building of a modern house and buying of another one which is five roomed and self-contained at Ntchisi boma and provision business startup packages for my children. “

 Q: Do you think you would have achieved all these through salary?

“I can’t imagine how things would have been with salary alone as a source of income. I believe I wouldn’t have managed all this. Life would have been miserable.”

Q: What has been your secret to success?

“I had been investing all the money I was getting through loans in various businesses and farming. These in turn, created another source of income that supplemented my salary. ”

Q: What are your plans now that you have retired with Illovo?

“I am going back to my home district Ntchisi and will settle at the boma where I bought a house. This is where I plan to continue running my businesses”

Q: What is your advice to Sacco members?

“Use the money you get from the Sacco through loans wisely by investing so as to expand your income.”