As Civil Society organizations are pushing for the interest capping bill, Malawi Union of Savings and Credit Cooperatives (MUSCCO) says the Interest Capping Law is not applicable to SACCOs because members already agree the interest rates charged therein.

Assessing how SACCOs operate, the above input by MUSSCO indeed shows that the interest rate capping bill would affect SACCO members.

However, SACCO Authorities have disclaimed that this is just an assessment opinion, not a final decision to be concluded that SACCO is against the interest capping bill.