I am writing to seek guidance from the Malawi Union of Savings and Credit Cooperatives (MUSCCO) on the process and requirements for establishing a Savings and Credit Cooperative (SACCO) in Malawi. Specifically, I would appreciate detailed information on:

1. Legal Requirements

-Registration procedures with the Registrar of Cooperatives and/or Registrar of Financial Institutions.

- Minimum number of members required at formation.

- Governance and compliance structures that must be in place (e.g., - Board composition, audit requirements, policies).

2. Capital and Liquidity Requirements

- Minimum share capital and savings contributions needed to start operations.

- Liquidity thresholds or ratios that SACCOs are expected to maintain.

- Access to MUSCCO’s Central Finance Facility (CFF) for liquidity support.

3. Operational Requirements

- Mandatory reporting standards and supervision mechanisms.

- Technology and record-keeping expectations.

- Training and capacity-building opportunities offered by MUSCCO for new SACCOs.

4. Membership in MUSCCO

- Procedures and benefits of affiliating with MUSCCO.

- Support available for new SACCOs in areas of governance, compliance, and growth.

I believe this information will be crucial in guiding the establishment of a well-structured and compliant SACCO that can sustainably serve its members.

Kindly share with me any documentation, guidelines, or checklists that outline the full process.

Thank you for your assistance, and I look forward to your response.