21 Nov 2018

Mmamotse Savings and Credit Cooperative Society (SACCOS) has been advised to consider expanding into a multipurpose cooperative to be able to diversify.

This was observed during the launch of Mmamotse SACCOS in Tonota as it was also awarded certification of operation by the Department of Cooperatives to mark their legal operation under SACCO’s requirements.

Giving the keynote address at the Selebi Phikwe multipurpose cooperation, chairperson Mr Maranyane Kebitsang told members of Mmamotse SACCOS that changing to a multipurpose cooperative had the potential to improve the performance of the society.

He said instead of focusing only on the business of lending money as their sole investment project, they should benchmark from the Selebi Phikwe multipurpose cooperative that had made better profits from operating as a multipurpose.

Mr Kebitsang explained that with a multipurpose setup, a cooperative could invest in different projects, and that it would afford them an opportunity to make more returns compared to focusing only on one project.

Furthermore, he revealed that he was introduced to cooperatives when he was still working at BCL mine. He said the cooperative was influenced largely by the living standard in which miners were exposed to as it was not easy for them to secure a bank loan.

He said they were compelled to find ways of survival hence they started a cooperative which helped leverage their issues. Mr Kebitsang said with a cooperatives background it was imperative to unite and work together to achieve set goals.

He appealed to Mmamotse members to unite and rally behind management in order to be a success. He said he led a multipurpose cooperative which had over the years achieved a lot. He noted that Selebi Phikwe multipurpose owned a fuelling station in Lobatse.

He also advised Mmamotse members to be wary of forces which could divide them and cause the end of their cooperative. For her part, Mmamotse chairperson, Ms Naomi Modisanyane said it was not a smooth journey when they first pursued the idea of starting a cooperative.

She said the idea was born in March 2016 with the intention to upgrade the living standards of people in the community by affording them the opportunity to accumulate savings.

She said at the beginning there were 18 members but currently Mmamotse prided itself with 40 members. Ms Modisanyane revealed that the idea was to start a kindergarten, but that they later settled for SACCOS after consultations.

Handing the certificate regional cooperative officer, Mr Boikaego Masonya told members to brace for challenges that the cooperative was bound to face. ENDS