Thuto SACCOS hosts successful AGM
Thuto Savings and Credit Co-operative Society (Thuto SACCOS), a cooperative financial institution finally held its first Annual General Meeting (AGM) 2022 after a two-year break due to restrictions on mass gathering imposed by government to curb the spread of COVID-19.
The AGM, which was also an elective gathering, was very successful as it attracted over a thousand of the cooperative’s members.
The AGM was held under the theme: Thriving in the Midst of Adversity.Guest speaker Gaone Oaitse, Corporate Business Manager at Metropolitan Botswana said the meeting offers members an opportunity to engage one another, in a spirit of mutual respect and collegiality on how best to nurture and grow Thuto SACCOS while navigating both present and future challenges.
Oaitse commended the Thuto SACCOS leadership for the choice of the AGM theme, saying it is befitting considering the disruptions brought by COVID-19, which suffocated normal trade between countries, isolated human beings resulting in economic hardships, closure of industries, job losses and sadly wastage of precious human lives.
“This is an appropriate and well chosen theme that is relevant not only for this season of suffering but even beyond,” said Oaitse. However, Oaitse said it is gratifying to note that in spite of the prevalent times of adversity caused by COVID-19 significant strides have been made in the last two years to grow and sustain the brand.
He indicated that Thuto SACCOS continues to spread its wings across the length and breadth of the country.
“Great progress has been recorded in membership, assets acquisition and diversification of products. Indeed Thuto SACCOS is thriving against all odds and has made the membership the epicentre of its operations,” he added.
He said Thuto SACCOS has the potential to assume the role of a game changer, as it offers struggling and economically marginalised people opportunities for economic inclusion.
Oaitse said there is need to explore and seek ways and means of thriving in the midst of adversity in order to strategically place SACCOS as a major player in the national goal of employment generation, wealth creation, social equalization and realization of the ultimate goal of a much more robust and diversified economy that caters for all.
Shifting attention to individual members, Oaitse said they have a duty and responsibility to play a critical role in enhancement of their own livelihoods.
He cautioned members against borrowing beyond their means and urged members to take advantage of existing loan avenues to invest on sustainable projects that would ultimately better livelihoods and roll back the frontiers of poverty.
He highlighted that it should be remembered that Thuto SACCOS exists for the purpose of promoting a culture of saving, as such members should make relentless efforts to spare for the future.
For his part, outgoing Thuto SACCOS Chairperson Charles Keikotlhae said despite the debilitating effects of COVID-19 on the society that forced Metropolitan Botswana to pay hefty amounts of money through payments of funeral claims, the society performed better financially and in membership growth.
He said their membership has grown from 2000 to over 3000 from the last AGM.Highlighting the growth of the society, Keikotlhae also said the society has managed to acquire a property in prime location at the Main mall, where the society would build Thuto SACCOS House, for its offices and investment purposes.
He said the society’s achievements include establishing partnership with Orange Botswana, Metropolitan Botswana, and installation of Coopmis system and refurbishment of their plot in Mochudi.
Just like Oaitse, Keikotlhae said cooperatives play an important role in developments, and are highly regarded.
He expressed gratitude to his predecessors and pioneers of Thuto SACCOS for laying the foundation to ensure that Batswana play a meaningful role in the economy of their country.