11 Feb 2018

Tlokweng community initiated project, Moshaweng Savings and Credit Co-operative Society (SACCOS) has taken off.

Moshaweng SACCOS was recently bestowed with its registration certificate during its official launch in Tlokweng.

The society’s interim chairperson, Mr Johannes Chokwe said the idea of a co-operative society was mooted in 2016 after likeminded residents of Tlokweng came together with the idea of doing something for the village.

He stated that they opted for a savings and credit co-operative in order to inculcate a savings culture among members as well as create a pool of funds for savings from which members could borrow and empower themselves.

Moshaweng SACCOS will give members loans at reasonable interest rates and will also afford members credit opportunities which they are unable to access from commercial banks because of their advanced old age or unemployment.

Batlokwa chief representative, Kgosi Ramonye Matlapeng speaking at the occasion on behalf of Kgosi Puso Gaborone said “SACCOS is significant to the whole community.”

“SACCOS has a great role to play in each community and they are known for their contribution to the socio-economic development, especially on communities with limited access to credit,” he added.

He said the launch of Moshaweng SACCOS was a platform for all to participate and contribute meaningfully to the socio-economic development of Tlokweng and the country.

He said co-operatives had proved to be sustainable business enterprises and had managed to remain afloat despite the economic challenges they faced.

Kgosi Matlapeng stated that the government was committed to supporting co-operatives through the Ministry of Investment, Trade and Industry.

He added that the ministry, through the Co-operatives Societies Act, came up with the transformation strategy for cooperative development. Ends