‘Embrace the culture of saving’-LIPAM

Life Insurance and Pension Association of Malawi (LIPAM) in partnership with the Reserve Bank of Malawi (RBM) have urged parents and guardians who have their wards schooling at Blantyre Girls Primary School in Ndirande to embrace the culture of saving.

The call comes barely days after the Tonse Alliance Government through RBM announced a 44 percent devaluation of the kwacha which has resulted in the rise of basic commodities on the market.

Speaking during a meeting organized by Blantyre Girls Primary School Committee and parents, LIPAM Representative Bernard Chiluzi emphasized the need for parents to embrace the culture of saving despite the economic downturn.

“This is a savings week and today we are concluding our various engagement that we had across the country. The focus is on teaching Malawians the culture of saving so that they prepare themselves in the time of emergencies as you know in life there is a time of abundance and time of inadequate.

“Here our advice especially to parents has been that they should not be discouraged because of the economy, they still need to save something to support them in future,” said Chiluzi.

Turning to Savings week, Chiluzi said he was overwhelmed with the response from the people who were eager to learn two or three things regarding the saving culture.

On her part, Deputy Headmaster for Blantyre Girls Primary School Flora Botomani hailed LIPAM for teaching learners at parents at the school the importance of saving.

“The message has come at the right time and guess our learners and parents have grasped something from it,” said Botomani.

Concurring with Botomani’s remarks School Management Committee Chairman William David Kanyoni urged LIPAM to continue teaching Malawians on the need to save for the future.

“As parents we have received the message very well and this will help us to embark on the saving culture and leave something for our Children and our grandchildren,” said Kanyoni.