October 06, 2021

CELEBRATIONS AS PHUTHALICHABA'S SAVINGS HIT ONE MILLION MALOTI!

By the end of September 2021, just over a year since it started, Phuthalichaba, the Financial Cooperative under the National University of Lesotho (NUL) Innovation Hub, had its savings at M1,015,513.92 and membership at 576, on its way to creating a BANK truly owned by the people! These numbers are growing by the day!

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July 12, 2021

PHUTHALICHABA'S SAVINGS AT M717, 322.08 MEMBERSHIP AT 493!

By the end of June 2021, Phuthalichaba, a Financial Cooperative under the National University of Lesotho (NUL) Innovation Hub, had its savings at M 717, 322.08 and membership at 493 on its way to becoming a bank TRULY owned by the people! These numbers are growing by the day!

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June 12, 2021

(Video) PHUTHALICHABA'S SAVINGS HIT M 690, 000!

By the end of May 2021, Phuthalichaba, a Financial Cooperative under the National University of Lesotho (NUL) Innovation Hub, had its savings at M 690, 206.47 and membership at 463 on its way to becoming a bank TRULY owned by the people! These numbers are growing by the day! "PhuthaLichaba's innovative approach and big vision is what separates us from other financial institutions in Lesotho, no wonder everyone is flocking to us," says Mr Vusi Mashinini, a Law Student at the National University of Lesotho and the Secretary General of PhuthaLichaba.

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June 1, 2021

PSCCS can secure better future for jobless youths

Phuthalichaba Savings and Credit Co-operative Society (PSCCS), under the National University of Lesotho (NUL) Innovations Hub, has since its establishment in 2019 proved successful in providing and promoting services to its member customers. PSCCS is the fastest growing co-operative in Lesotho that runs a paper-free cooperative society to facilitate permanent records that remain with the bank.

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May 9, 2021

PHUTHALICHABA'S SAVINGS HIT M 608 000!

By the end of April 2021, Phuthalichaba, a Financial Cooperative under the National University of Lesotho (NUL) Innovation Hub, had its savings at M 607 876.64 and membership at 432 on its way to becoming a bank TRULY owned by the people!

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April 7, 2021

PHUTHALICHABA'S SAVINGS HIT HALF A MILLION MALOTI MARK!

By the end of March 2021, Phuthalichaba, a Financial Cooperative under the National University of Lesotho (NUL) Innovation Hub, had its savings at M536, 119.27, and membership at 403 on its way to becoming a bank TRULY owned by the people! These numbers are growing by the day! "This is worth a celebration because we are just a few months old," said Itumeleng Likhama, the Finance Intern at the most innovative cooperative Lesotho has ever seen: Phuthalichaba.

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January 06, 2021

INTERNSHIP! INTERNSHIP! INTERNSHIP!

Applications are invited from a suitably qualified candidate for one Finance Intern position at Phuthalichaba Savings and Credit Cooperative Society (Ltd) under incubation at the NUL Innovation Hub.

DUTIES AND RESPONSIBILITIES

General administration work and financial reporting.

MANDATORY QUALIFICATIONS & COMPETENCIES

1. A Degree in BA Economics with a minor in Business Administration, BComn Accounting, Management or Marketing and any other equivalent Business related Degree.
2. Excellent communication skills.
3. Must be able to work efficiently under pressure.
4. No experience is required.
5. Must be a Lesotho citizen.
6. Must be able to collect, evaluate and interpret data using MS Excel.
7. Knowledge of various software used in finance will be an added advantage.

SUBMISSION

A comprehensive application Letter and a CV must be submitted via email on or before 12:00pm on Thursday, 7th January 2021.

Email: phuthalichabasavings@gmail.com

Note: Application via Facebook or WhatsApp will not be accepted. Physical submissions will not be accepted.

For inquiries please contact Mr Tebello Tjapela (+266) 56322869 or Mr Vusi Mashinini on (+266) 57120860

December 23, 2020

"WE ARE BUILDING A DIFFERENT BANK" SAYS NUL MASTERS OF ECONOMICS STUDENT

Phuthalichaba, a rapidly growing Financial Cooperative incubated under the National University of Lesotho (NUL) Innovation Hub is an economic game-changer for Lesotho! That is according to Mr Tebello Tjapela, the NUL Masters of Economics student and the Chief Executive Officer (CEO) of the esteemed cooperative which seeks to become "The Bank of the People," in future.

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November 11, 2020

PHUTHALICHABA'S SAVINGS SHOOTS TO M220, 000 AND MEMBERSHIP TO 254

Known as "The Future Bank of the People," Phuthalichaba is a unique registered financial cooperative being incubated under the National University Lesotho (NUL) Innovation Hub. It's aim is to be become Lesotho's first and true Development Bank which will have shareholding in NUL Innovation Hub's and other Basotho owned innovative start-up businesses.

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October 2, 2020

NUL PHUTHALICHABA'S MEMBERSHIP SHOOTS TO 214 AND SAVINGS TO M160, 000!

Known as "The Future Bank of the People," PhuthaLichaba is a unique registered financial cooperative being incubated under the National University Lesotho (NUL) Innovation Hub. It's aim is to be become Lesotho's first and true Development Bank which will have shareholding in Basotho Start-up businesses.

Join PhuthaLichaba here: www.phuthalichaba.com. By saving a minimum of M65 per month (and once off M150 membership fee), you can be part of potentially the most important financial institution Lesotho will ever see! Members are free to save any amount they want every month, as long as it is at, or higher than, M65.
Why join ?
  1. It is a legally registered cooperative, incubated under the NUL Innovation Hub, which aims to be both a Commercial and a Development Bank in the future.
  2. It will be Lesotho's only financial institution that strengthens innovative local businesses by buying shares in them, growing them to become big regional and international players.
  3. If you are a member (and therefore a shareholder in PhuthaLichaba), you indirectly become a shareholder in the companies in which PhuthaLichaba will invest, with associated benefits.
  4. Immediate benefits include access to borrowing services when you are a member. They also include a chance for you to save your own money in an entity that is owned by you.
Join it here: www.phuthalichaba.com What makes PhuthaLichaba Different?
1. Being part of the NUL Innovation Hub, it seeks to be at the cutting edge of financial innovations in Lesotho.
2. It is brought together, and it is led by some of the best brains Lesotho has produced.
3. It is one of the few (if any), 100% paperless institutions in Lesotho, and no one handles cash at PhuthaLichaba.
4. All financial transactions are handled by the bank, so PhuthaLichaba is transparent in the way it handles people's monies, because all its transactions are traceable and they are held by a third party.
Did you know?
1. PhuthaLichaba now has 214 registered members and the numbers are growing by the day.
2. The cooperative has members residing as far as Canada, United States, United Kingdom, Mozambique and South Africa. In fact you can join PhuthaLichaba from anywhere in Lesotho or outside the country as long as you have a bank account in Lesotho.
3. It already has more than M160, 000 collected from members since it started its operations a few months ago. The aim is to collect more than M20 million or more.
4. Even new-born babies can become members of PhuthaLichaba by saving through their parents' accounts as long a they have Identity Documents. So join it now because, quite frankly, PhuthaLichaba is an earthquake waiting to happen: www.phuthalichaba.com
Contact the CEO, Mr Tebello Tjapela here by WhatApp: +266 5632 2869
March 15, 2020

PHUTHALICHABA STARTS OPERATIONS AT THE END OF THIS MONTH

PhuthaLichaba, A Financial Cooperative under the National University of Lesotho (NUL) Innovation Hub is set to start taking savings from its members. This happens as the young cooperative has netted a membership of 65 in just over a month. It is one of the fastest growing cooperatives which is set to change the status quo in Lesotho's financial landscape!

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February 4, 2020

NUL INNOVATION HUB'S PHUTHALICHABA REACHES NEW HEIGHTS!!

In just sixty days, Phuthalichaba Financial Cooperative being incubated under the NUL Innovation Hub has reached a minimum of 55 registered members. That is a feat! It means Phuthalichaba is now ready to begin its operations. The door is not yet closed for those who want to join the coop.

A. INTRODUCTION PhuthaLichaba is a Savings and Lending Cooperative, registered under the Department of Cooperatives in the Ministry of Small Businesses (its temporary but official name is Roma Savings and Credit Society). It is one of the many businesses being incubated under the NUL Innovation Hub. It is meant to grow into an investment body that will enable Basotho to have a shareholding in the NUL's rapidly developing innovative businesses. This will happen as itself buys shares and assist these businesses to grow. Any resident of Lesotho who lives anywhere in Lesotho, and who has a bank account can join the cooperative. B. SUMMARY OF HOW TO BE A MEMBER 1) Deposit M150 into the Cooperative's Account, scan and send the deposit slip via email (you can use your phone as a scanner). The Standard-Lesotho Bank Account Number is 9080006897440 (please note: The account says Roma Savings and Credit cooperative. It is is a temporary name). Reference should be your name, written in full. e.g. Tebello William Tjapela. The email is: phuthalichabasavings@gmail.com 2) Read, sign, scan and send the Member Agreement Form via email (To obtain the member agreement copy, whatsapp Mr Tebello Tjapela here +266 56322869). 3) Scan and send by email, a certified copy of your ID/Passport 4) Scan and send by email, a proof of residence (residence is where you are currently staying, not were you were born). It can be a chief's letter or other official forms proving your residence.
October 9, 2019

A CREDIT AND LENDING COOPERATIVE THAT IS MEANT TO FUEL NUL INNOVATION

Yes, it’s all about these twin proverbs: “culture of saving” and “access to finance.” So Mr Tebello Tjapela, the National University of Lesotho (NUL) Master’s student of Economics spent months underground, researching about and creating a Credit and Lending Cooperative with the aim of encouraging the culture of saving among NUL students and teachers and supporting the ballooning levels of NUL innovation.

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