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
BPF should get house in order

Speaker of the National Assembly, Dithapelo Keorapetse, has this week rightly washed his hands of the mess, refusing to wade into a party squabble that has no clear leadership and no single version of the truth.When a single party sends six different letters to the Speaker’s office, each claiming to be the authoritative voice, it is not just confusion, but an embarrassment.Keorapetse is correct to insist on institutional boundaries. Parliament...

Have a Story? Send Us a tip
arrow up