Boliba Savings and Credit was established under The Cooperative Act No. 6 of 2000 under Registration Number 1544. It is the trading arm of Boliba Multi-Purpose Cooperative. Individuals from the defunct Lesotho Bank (in liquidation) and some local businessmen joined forces and formed a cooperative with the sole purpose of soliciting deposits and offering credit to its members. The cooperative has over eighty very professional staff and management structure that employs modern business techniques to achieve its strategic objectives.
Boliba Savings and Credit commenced its business on 26th June 2000 at BEDCO. Our Head Office is at The Old Coop Lesotho, a distance less than a kilometer on the main South 1 Road from Maseru Main Traffic Circle. Our main service center (branch) is at Metcash Building otherwise we are represented in two other districts Maputsoe in Leribe and Mohale’s hoek
The market which Boliba Savings and Credit is currently servicing is its members who the mainstream banking institutions are reluctant to serve for a variety of reasons; ranging from the high risk to costly high volume and low value transactions. The market covers the small, micro and medium enterprises (SMMEs), societies, and low income employees for both the public and private sectors.
We offer a range of savings products such as ordinary savings account short and long term investment accounts, accounts ideal for business, credit products for personal and business needs of our members. We are about to introduce Mobile Money which will offer our members a more flexible, convenient and cheap way of transacting using mobile phone.
To access Boliba products one has to register as a member. In turn a membership account is opened.