As many SACCOs continue to register huge profits in the country, Polymed Sacco has announced a growth rate in surplus from K208 million to K324 million in 2025.

Speaking during the Annual General Meeting in Blantyre yesterday, Polymed Sacco Board Chairperson, Samson Kalulu said the Sacco has also achieved a growth in asset base from K2.3 billion to K3 billion.

“While we had economic challenges as a country in terms of macro, we managed to excel through, we managed to hit 55 percent growth rate in terms of surplus from K208 million to K324 million and it has been a great achievement.

He added that apart from recording some positive results, Polymed also experienced some challenges.

“We have had so many challenges but much of them was the government’s failure to remit the deductions considering that 50 percent of our members come from the civil service while also facing challenges with the private companies.

“And when they have deducted from their payroll, they could delay maybe for nine months, bringing some constraints on the cash flow,” said Kalulu.

He also bemoaned some members’ delays to pay back their loans putting the delinquency at nine percent instead of the recommended five percent.

Guest of honour at the event, Dr Duncane Batizani who is from Malawi University of Science and Technology (MUST) commended Polymed for being an inclusive Sacco.

“Saccos like Polymed are key for Malawi to achieve economic growth,” said Dr Batizani saying Polymed is playing a crucial role for the country to achieve 2063 vision.

He has since begged Malawians to utilize the availability of Saccos to achieve economic independence.