Private schools owners and managers under the umbrella body Private Schools Association of Malawi (PRISAM), will be in Dowa this weekend for an Annual General Meeting where they will also launch private schools SACCO.
Confirming the development to Malawi24 was PRISAM President Amon Mtafya who said the organizing committee met on Wednesday, 24 January, 2024 in Blantyre to finalize preparations for the forthcoming AGM this weekend.
Mtafya revealed that the AGM will be held this coming Sunday, 28 January, 2024 at Cornerstone Hotel in Mponela, Dowa district.
He further said at the elective AGM, they will present 2023 financial report and also launch the most anticipated private schools Savings and Credit Cooperatives (SACCO) which he said is a financial boost to most private schools across the country.
“We are organizing an AGM meeting, which is going to take place in Mponela. We will at the AGM adopt the constitution, present the financial report to our members, and at the same time, we want to hold the elections for the association.
“We are therefore asking members to attend this important meeting, as it will also help us to map way forward, so that we should improve our services in the education sector. But at the same time, we are asking each one of them to at least come with contributions in this meeting that we are going to have in Mponela,” said Mtafya.
Mtafya further said the setting up of a private school SACCO is one way of promoting financial independence amongst private schools in the country claiming many private schools are facing financial challenges because they rely on learners for their revenue.
“Having realized that private schools are having a lot of problems in terms of finances, as you may know, that we collect a lot of money at the beginning of the term, and it’s always dry at the end of the term. So due to hiccups like COVID-19 and other pandemics, we at times run short of finances. So we came up with an idea of coming up with a Private schools SACCO, whereby we can be giving shares, and by the end of the day, we’re able to realize and get some loans for the schools,” he added.
Emphasizing on their preparedness for the event, one of PRISAM trustees, Dr Ernest Kaonga, said all is set for the AGM in Mponela and added that they are expecting private schools from all corners of Malawi.