26 Feb 2018

Education, training of members of the co-operative have been perceived as indispensable assets, which have been given lesser attention by Ditswammung management.
If people are oriented enough on the co-operative philosophy, they are expected to fully participate and conduct themselves as ordinary co-operative men and women.

Opening the 10th annual conference of Ditswammung Savings and Credit Co-operative Society (SACCOS) for Diamond Trading Company (DTC) in Gaborone, assistant director for co-operatives-north, Mr Goleswang Ramogala said he had observed all the reports and came to a conclusion that members had not been given enough opportunity on the running of co-operatives.

Mr Ramogala was of the view that too little knowledge was dangerous as some members wished to be elected into committees, but fail to apply themselves, the worse scenario being when an ordinary member does not know the powers he possesses and when to use them fruitfully to the best interest of the society.

He said it was a crime not to repay the societies loan as interest is the main source of income for the society.

Mr Ramogala said due to lack of repayment of loans members are not benefitting from their societies resulting in either excess liquidity or too much delinquency.

Excess liquidity results in members investing in assets that may not directly be linked with ordinary members, while delinquency portrays a balance sheet that is not bankable, he said.  Mr Ramogala said at the one-day conference that decision taken by the general membership is crucial as it can only be changed before the courts of law.

He further mentioned that co-operatives are formed for the sole purpose of benefiting members, noting that it would be against the co-operatives philosophy to find rich societies somewhere else and assist them, while its members remain poor.

“The time is now, for credit unions of Botswana to pool their excess liquidity into the formation of a strong co-operative bank.
This will be a better vehicle for co-operatives to fully participate in the drive, where no one will be left behind, by redistributing wealth to other sectors of the economy; by so doing fulfilling the seventh co-operative principle of concern for the community.”
With good governance, he noted, the co-operative movement can grow to a higher level by implementing the sixth co-operative principle of cooperation among co-operatives, where by participation can be felt globally in all international structures.

Mr Ramogala urged the appropriate, dedicated and selfless members who will be assigned to the various portfolios of DTC SACCOS to ensure unparalleled continuity and desired future outcomes.

DTC SACCOS chairperson, Mr Edwin Motlana said the main purpose of the society’s conference was to brand the society as they have been operating without a logo and also to map the society’s way forward.

The society was formed in 1998 because employees of DTC had realised that there was a limit on what the employer could do for them in their social life, he said.

According to Mr Motlana, the society has been advantageous to members by being a form of financial solution.

Even though they increased the loans from P250 000 to P400 000, Ditswammung has more liquidity and the incoming committee has a task to find ways of investing this money somewhere else, he pointed out.

“As a way forward we endeavour to make our services to be adaptable to the purpose for which members save.

We intend to attend workshops on strategic planning, where the purpose will be to identify our existing service delivery structure; that is, comparing the competitive characteristics of service-prices, terms, minimum amounts, convenience, waiting periods, service variety and sophistication of products, with other local financial institutions.”  

Meanwhile, Ditswammung’s SACCOS brand identity has icons of diamond, which represents DTC employees, who form Ditswammung society, according to Mr Motlana.

The logo has germinating seedlings representing wealth that  grows as a result of savings and credit offered by Ditswammung.

“The brand colour blue represents the Botswana flag, orange the African sun that nature’s life brings forth.

Lime green represents a sense of anticipation of all the possibilities and opportunities and green is a symbol of growth and wealth.”

The slogan of Ditswammunng is ‘Lets grow our wealth’. Ends