BOSETU (Savings and Credit Cooperative Organisation SACCOS Share Capital Promotion, which has been running exclusively in The Monitor over the last 12 months climaxes on Friday this week with the grand finale draw of prizes worth P28, 000.
The grand finale to be held at BOSETU SACCOS offices at African Mall, Babereki House, will see three lucky winners pulled from the hat walking away with a Samsung curve TV valued at P12, 000, a top of the range fridge valued at P8, 000, while the third prize is a washing machine, valued at P5, 000.
According to the chairperson of BOSETU SACCOS, Hendricks Albert, the promotion has yielded positive results with impressive number of teachers joining the savings initiative.
Albert explained that the grand finale prizes target those entrants that joined the savings with at least P1000, as per the promotion that ran in The Monitor. BOSETU SACCOS exists solely to improve wealth accumulation of its members, especially those working in the education sector.
BOSETU SACCOS, according to Albert, offers annual interest of 12% for members with a 12-month pay as you earn savings. He says the 12% interest pay out was deliberately offered to entice members to build a rewarding culture of saving. Albert said at 12% interest, the BOSETU SACCOS offer remains the most lucrative in the country, adding that BOSETU members and potential members would have built a fortune for themselves in taking up the offer.
Albert explained that besides the pay as you earn 12 month offer, SACCOS member can also earn five percent annual interest for ordinary shares; meaning that a joining member or existing member can invest a lump sum at once and reap the five percent benefits at year end. The BOSETU SACCOS also offers loans of up to P100 000 to members, according to their value of savings, at a ratio of 1:2, the chairperson explained.