Civil servants build K70 billion assets – The Times Group

K70 Billion Windfall: How Civil Servants’ Asset Growth Can Energize Malawi’s Economy

Post was last updated: December 25, 2025

Key Business Points

  • UCS Sacco’s impressive growth is expected to yield a K14 billion profit in 2025, with assets worth K70 billion, making it a significant player in Malawi’s financial sector.
  • The Sacco industry’s transformative regulatory framework has contributed to its growth, with assets increasing from K3.5 billion in 2012 to K146 billion in 2024, and serving at least 1 million Malawians.
  • Customer satisfaction is key to driving business growth, as emphasized by Nico Holdings Group CEO Vizenge Kumwenda, who urged Saccos to focus on high customer ratings to expand their customer base.

The United Civil Servants Sacco (UCS Sacco) has undergone a remarkable transformation, evolving from a small teachers’ Sacco in Mzimba to a multi-billion kwacha financial institution. With 91,000 members and assets worth K70 billion, UCS Sacco is projected to make a K14 billion profit in 2025. This impressive performance is attributed to the Sacco’s five-year strategic plan, which has fostered a high-performance culture. According to UCS Sacco CEO Francis Waliwa, the Sacco has already achieved its targets for next year, demonstrating its commitment to growth and excellence.

The Sacco industry’s growth is a testament to the effectiveness of the transformative regulatory framework developed since 2010. The Reserve Bank of Malawi’s Deputy Governor, Kisu Simwaka, noted that the industry has made significant strides, with assets increasing from K3.5 billion in 2012 to K146 billion in 2024. This growth has contributed to the national access to finance efforts, serving at least 1 million Malawians. The industry’s loan portfolio has also expanded, exceeding K95 billion, with deposits and shares totaling K83 billion.

To sustain this growth, customer satisfaction is crucial. Nico Holdings Group CEO Vizenge Kumwenda emphasized the importance of high customer ratings in driving business expansion. As the Sacco industry continues to evolve, it is essential for players like UCS Sacco to prioritize customer-centric approaches, ensuring that their services meet the needs of their members. With the Financial Services Act (2010) and Financial Cooperatives Act (2011) in place, the industry has seen significant improvements in governance and compliance, with performance rates exceeding 80 percent and projected to hit 90 percent by year-end.

As Malawi’s business community looks to the future, the Sacco industry’s growth presents opportunities for investment and partnership. With its central location in Lilongwe, UCS Sacco is well-positioned to serve its 91,000 members nationwide. As the industry continues to expand, it is likely to play an increasingly important role in Malawi’s economic growth, providing access to finance and promoting zwilira kwa anthu (economic empowerment) for its members. By prioritizing customer satisfaction and high-performance culture, the Sacco industry can build on its successes, driving growth and development in Malawi’s economy.

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Vanessa Banda
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