Membership
Phaphamani Maswati Savings and Credit Co-operative Society Ltd was formed in 1978 by Eswatini Railways employees and its office is at Sidvokodvo Railway Premises. Phaphamani is a SACCO for all Eswatini citizens from birth.
Types of members
- Ordinary member – holds shares of E5,000 maximum, E300.00 monthly savings contribution, ordinary savings increase by E50.00 annually.
- Secondary member (Skhula nabo) – holds E1,500.00 share maximum, E100 monthly savings. Member is allowed to borrow Skhula nabo loan and Mashesha loan but can save for any withdrawable savings.
- Future members – these are kids from members and non members from birth to 18years. No joining fee and shares, contribute E50.00 monthly and Christmas savings (optional) with a minimum of E10.00 monthly.
Membership requirement
- Must be a Swazi Citizen who is above 18 years.
- Colour ID copy certified.
- Proof of residence.
- 2 passport size colour pictures.
- Payslip for those who are working.
- Bank statement for self-employed person.
- Child membership- we need birth certificate only.
Once off E300.00
- Ordinary Shares E5,000.00
- Skhula nabo shares E1,500.00
Annually E200.00 payable in August of each year.
August – July
