Motswedi Cooperative loses business to banks

Tsonope
Tsonope

Motswedi Savings and Credit Cooperative Society (Motswedi SACCOS) has expressed concern at the rate at which they are losing business to commercial banks as members consolidate their loans with lucrative facilities from the banks.

A consolidation loan is a loan made in order to combine several debts into one loan, usually for the purpose of reducing the monthly payments by extending them over a longer time period.

According to the chairperson of Motswedi SACCOS, Sipora Tsonope the society continues to see a lot of its members’ loan settlement by other financial institutions.

Editor's Comment
Tana project a welcome development

Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...

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