Africa-Press – Nigeria. Malawi Aid Society of Malawi (Masm) has announced a net surplus of K5.23 billion in 2024 from the K1.19 billion in 2023.
Masm board chairperson George Chitera made the announcement on Friday during Masm’s 40th annual general meeting in Lilongwe.
Chitera also announced that the Society has recorded a net membership growth of 25 percent from 165,198 to 205,895 members between July 2023 and December 2024.
He attributed the growth to its continued offering of high-quality service and flexible scheme options which addressed affordability concerns and bolstered new member acquisitions and retention efforts.
“We are thrilled with the Society’s impressive financial performance which is a testament to our team’s hard work and dedication.
“Despite the economic challenges we have demonstrated our ability to adapt and thrive and we are confident that our strategic initiatives will continue to drive growth and success,” Chitera said.
Masm Chief Executive Officer Ulemu Katunga said the society would continue improving members’ satisfaction and efficiency, upgrading systems and driving the digitalization agenda to grow the society and enhancing members’ experience.
“Now that the society is growing, we will ensure that we continue improving our system to satisfy our members,” Katunga said.
During the general meeting, for Malawi Revenue Authority Commissioner General John Bizwick and Josephine Mchungula were elected into the board.
For More News And Analysis About Nigeria Follow Africa-Press
