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  • The Co-operative was established with the overall objective of promoting and upgrading the standard of living among its members with a bid to improve their livelihoods both economic and social. The Co-operative has objects that include encouraging thrift among members and promoting the habit of saving through the Co-operative. The accumulated savings provide a source of funds from which members could borrow for productive and provident purposes and a fallback in period of redundancy or retirement. 
  • Memorandum of outstanding (MOU) between Nkwazi Cooperative and the member’s employer. Get in touch with the office for more information.


  • Any contributions in excess of the shares of Ten Thousand Kwacha will be credited to each members saving account. Each member is required to save a minimum of K100.00 per bi-weekly or 200.00 per month or K2,400.00 per annum.
  • Members with more savings benefit annually through Dividends shared in accordance with the By-laws and the Cooperative Societies Act No.20 of 1998.

Savings withdraw 

  • A member in employment can only withdraw a maximum of 25%, however, a member who is out of employment can withdraw up to 50% of their savings, subject to approval and based on the submission of adequate supporting documentation.


For a member to qualify to get a loan, that member should have paid for the full 200 shares of K50.00 each valued at Ten Thousand Kwacha (K10,000.00). In addition to payment of full shares, a member should have savings in the Co-operative for at least:

  • Three months to qualify to apply for an emergency or education loan.
  • Six months to qualify to apply for a Provident or Commodity Loan.

NB: All loan applications are capped at a maximum three times of one’s savings

Members are advised to get copies of our By-Laws and Savings and Loans Policy for familiarization.

Nkwazi Co-Operative Savings & Credit Society © Copyright 2024. All Rights Reserved.