Rumphi Teachers Launches Banking Platform for Members
Rumphi teachers SACCO has accelerated its digitization to respond to a growing need for financial inclusion. Giving members access to the financial services, Speaking during the systems migration project exit meeting held on 18 June 2025, the SACCO President Mr. Tenpex Mkandawire said the SACCO focus is to provide access to finance to its members beyond physical branches as they are not always accessible.
The launching of both the Core and the mobile banking facility will assist our members access their accounts with ease wherever they are allowing them to transact whenever they are. They will no longer have to travel to banking halls, thus saving them time and money,” said Ulemu Kumwenda, SACCOs General Manager
According to MUSCCO digitization statistics as of May 2025, the number of automated SACCOs in Malawi has reached 28, accounting for almost 68% of the total number of SACCOs in the country. Mr Daniel Imfa, Information technology Manager said time has come where SACCOs like Rumphi Teachers will be offering their members more convenient services. MFI-Hub company software is the right technology firstly, it gives a 24/7 branch experience to the member, besides this, it simplifies and automates workflows which improve employees’ productivity. He continued to say by digitizing operations staff will focus on the key business objective: member satisfaction. The core system’s service oriented architecture integrates third party applications thanks to APIs. Data will be shared and managed in a fully secured environment through a unified database as the single source of truth so that SACCO can stay in control and ensure data consistency. Members will therefore benefit from a seamless customer support with a reduced response time.
And speaking on behalf of the service provider Mr Ernest Kuyeya commended the SACCO board for the timely decision in making sure that the SACCOs is amongst beneficiaries of Financial Inclusion and Entrepreneurship Scaling (FInES) Project a five-year Government of Malawi project being implemented by the Reserve Bank of Malawi with support from the World Bank. The project is aimed at increasing access to financial services, promoting entrepreneurship and capabilities of Micro Small and Medium Enterprises (MSMEs) in Malawi. Rumphi teachers is now on system provided by MFI-HUB company a technology service provider for SACCOs in the country.
In conclusion, the solution is to rely on technology to simplify the complex. That is the goal of the partnership between MUSCCO and MFI-HUB company. The partnership takes MFI-Hub’s digital lending, mobile, agency and ATM banking capabilities and integrates them with the core Banking System. The result addresses SACCOs’ needs to automate, secure, and manage their members’ data and activities. We will help SACCOs streamline their business, reduce their costs and modernise their processes while bringing additional value to their members said Mr Kuyeya.
