MASERU– Saturday saw the launch of an exciting new benefit for Finite Lifestyle club members, the session was held to introduce the Finite Savings & Credit Cooperative Society (SACCOS) LTD which will be a savings and credit benefit for Finite Lifestyle club members.
This session was chaired by Mrs ‘Mamashiya Ntšepeng Tšita Tikiso as the Chief Executive Officer (CEO). The members are the owners of SACCOS, who greatly appreciated to be included in the evolvement of the club. To be a part of the benefit one needs to be a lifestyle club member first.
The new Committee consists of seven members which are Lebohang Mokitimi Chairperson, Motšelisi Pitso Deputy Chairperson, Kananelo Makoboshane Secretary, Tšeliso Sello Deputy Secretary, ‘Mapaseka Sepamo Treasurer, ‘Mabahlakoana Sello and Masoabi Pitsa who are members.
Speaking at the launch, Ministry of Trade, Industry, Business Development and Tourism Department of Cooperatives Cooperative Officer Zoleka Mathizo indicated that the benefit will assist the members to make money without having to go out of their ways and obtain loans from others, saying they will get loans with a lower interest and save while doing so. She said this method is a better way of saving because it is also under the supervision of members. Mathizo noted that their mandate as the office is to advice and give proper guidance as to how they should supervise the society.
“Towards 2007 and 2008 the government realized that loan sharks had increased in numbers in the country, which created a clash amongst civil servants due to the penalties given if they failed to pay. Therefore, our office was assigned to give guidance and advice to Basotho about savings and credit cooperate which has helped many Basotho in managing their money properly. A cooperate is a group of 10 or more members who have come together to form a business with one obligation,” she said.
On behalf of SACCOS, SACCOS Chairperson Lebohang Mokitimi exchanged a vote of thanks for the opportunity he got. He stated that going forward they will work hand in hand to see to it that the cooperatives will benefit each and every one of them. Also, the unemployment rate will decrease as many Basotho will be a part of the society. He added that he is aware of how many benefits are brought by cooperates, therefore SACCOS is no exception. He exchanged gratitude on behalf of the members who got the opportunity.
Finite Lifestyle Club is a product of Finite Magazine under BAM Media. It is a social entity that is aimed at gathering Finite Magazine readers together in order to share and equip them with knowledge and skills in improving lives. With this new introduction, members become shareholders inside the cooperative where they will get dividends annually with their own investments and will borrow money amongst themselves.