BPOSACCOS stands for Botswana Public Officers Savings and Credit Cooperative Society (Ltd). It is a cooperative society registered in Botswana to serve public officers, primarily government employees. The society was formally registered in 2013, evolving from a savings fund that had been managed by the Directorate of Public Service Management (DPSM). It operates under the Non-Bank Financial Institutions Regulatory Authority.

Mission, Purpose & Goals

The cooperative exists to promote a culture of saving among public officers while offering financial services under more favorable conditions than traditional banks. Its main goals are to provide low-interest loans, facilitate debt consolidation, offer funeral cover, and ensure that members benefit as shareholders of the cooperative.

Membership & Eligibility

Who can join: Membership is open to public servants in both central and local government.

Voluntary membership: Joining is optional and based on individual choice.

Minimum contribution: Members can start saving with as little as P100.

Retirement options: Members may either withdraw their savings upon retirement or choose to remain part of the cooperative.

Services & Products

Savings: Members contribute savings regularly.

Loans: Both short-term and long-term loans are available, typically up to four times the amount of a member’s savings.

Funeral cover: Funeral schemes are offered for members and their dependents.

Shareholding: As a cooperative, all members are shareholders, entitled to benefits or dividends.

Debt consolidation: Existing debts can be consolidated into a single, more manageable loan with favorable terms.

Governance & Structure

BPOSACCOS is managed by an elected Management Board, which includes a Chairperson, Vice-Chairperson, board members, and the Manager (as an ex-officio member). The board is accountable to members and oversees the society’s administration. Governance is guided by published bylaws.

Recent Developments

BPOSACCOS holds annual general meetings where key updates and financial reports are shared with members.

In 2024, the organization emphasized its benefits such as low-interest loans, funeral cover, debt consolidation, and shareholding during public engagements aimed at encouraging saving among public officers.