ST. PETERS OUTSTATION KOLPING FAMILY MEMBERS MAKE REMARKABLE PROGRESS
By Noel Chatepa
The 26-member St. Peters’ outstation Kolping Society family established on April 26th, 2024, and in a remarkably short span of time, has achieved an impressive milestone. The group has so far successfully raised over 6,200,000 million Kwacha, showcasing the collective efforts and financial discipline of its members.
“We were inspired by our visit to St. Bernadette outstation where we saw the progress of the Kolping family there and we made a decision to start our own village bank” says Tereza Mwangalaba who is a member of St. Peters outstation Kolping family. Through the village savings and loan group at St. Peters outstation, Tereza was able to borrow money to boost her tomato selling business.
The interest rate for the St. Peters outstation Kolping Society family is set at 20 percent, which is much lower than the higher interest rates offered by typical financial institutions like banks. This is one of the main benefits of the group’s savings and loan strategy.
This accessibility to low interest loans at parish level has been a game-changer, allowing the members to borrow funds without navigating through red tape often faced when dealing with financial institutions.
In her words, Mercy Mhango, the President of Kolping Society Malawi, expressed her commendation for the group’s remarkable progress. “It is very inspiring to see that a group which has just been recently established has made so much progress, I encourage you to continue at this pace” she said.
Not only was the Kolping Society monitoring visit to the St. Peters outstation a symbolic act, but it also served as evidence of Kolping’s steadfast commitment to strengthening local communities. Through honoring and commemorating this group’s accomplishments, the Kolping Society has reaffirmed its commitment to assisting individuals in escaping poverty on their own.