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.

The SACCO draws it's members from:

  1. Eswatini Railways Employees
  2. Their dependents a spouses
  3. Ex-Railway employees
  4. Employees of companies contracted to Railway
  5. Society staff
  6. Employees of the transport industry
  7. And have employees of any company
  • JOINING FEE – Once off E 235.00
  • SHARES – E 5 000.00, payable in 10 instalments which E500.00 per instalment.
  • SUBSCRIPTIONS – Annually E100.00 payable in August of each year
  • FINANCIAL YEAR – August – July

How do members pay their monthly contributions?

  • We make arrangements with their companies to deduct the members’ contributions from their salary and transfer the total collections into our account as lump sum.
  • Through Bank Stop-Orders
  • Cash deposit to our various Bank accounts

When is a member eligible to borrow and what are the requirements?

  1. After 6months joining the SACCO provided paid half of total shares, E3 000.00.
  2. Member can access short loan only while waiting for 6 months to elapse, but had to acquired E3 000.00 of the shares.
  3. Copy of payslip should be attached to every loan application form, to calculate the Statutory 33% of total deductions per employee.
  4. Submit ITC certificate, proof of residence and contract of employment.
  5. Members who are not employees should submit; ITC certificate, Police Tax clearance, 3 Months Bank Statements, proof of residence.