Savings and Credit Cooperatives (SACCOs) were first promoted in Malawi by the Catholic Church and government in the 1970s to offer savings services to people who were not serviced by the commercial banks. Based on good savings records, members of the SACCOs were also offered short-term loans. Donors supported the development of this service and helped establish a national association, MUSCCO, in 1980, through which support to the SACCOs was channelled. The case study focuses and analyses the practices of SACCOs and the authors identify the good and the bad of the practices and draw conclusions from them.
CGAP Working Group on Microinsurance