The Motshelo Account is a unique product designed to digitise the traditional practice of group savings. This product is specifically designed to support individuals, societies, and other entities engaged in group savings, to effectively manage their collective funds through Smega's user-friendly platform. To establish a Motshelo Club, a minimum of four(4) members is required, and an administrator is assigned during the account setup process.

1. Formation of the Motshelo Club: Gather at least four people who are interested in group savings and who are registered Smega users. These individuals will act as the club members.

2. Account Setup: The Motshelo Account can be set up through Smega on your mobile device; there is no need to visit a BTC shop or service point. Simply use your mobile phone to initiate the setup by dialing *173#. Access your Smega account and follow the prompts provided for the Motshelo Club.

3. Assigning an Administrator: During the setup process, an administrator chosen by the group members will be appointed. This person will have significant responsibilities related to account management.

4. Jointly Manage Account: As members of the club, you will have the privilege to manage, access, and view transactions on the account together. Individual members will make their contributions to the Motshelo account from their personal Smega accounts.

5. Permissions for Withdrawal: To withdraw funds from the account, approval from the account Administrator along with any other two members of the group is required. This ensures that there’s collective decision-making and better security for the group’s savings.

6. Monitoring and Statements: A monthly account statement is emailed to all the members. This statement includes detailed information on deposits, withdrawals or payments to members, and the current account balance. It helps in keeping each member updated about the financial activities within Motshelo Club.

7. No Balance Limits: It's important to note that the Smega Motshelo Account does not impose any limits on account balances, providing members with a unique opportunity to save larger amounts of money.

8. Invite New Members: Once the Motshelo Club has been created, it is possible for new members to join. They can also do this via their mobile phones.

The setup and maintenance of the Smega Motshelo Account is designed to be convenient, secure, and transparent, ensuring that every member can participate fully and track the group’s savings progress without needing to physically visit any facilities.

The Smega Quick Loan provides a quick and accessible micro-loan service for customers requiring short-term credit. This loan facility caters to active customers aged between 18 and 65 who have been using the Smega platform for at least six months. It allows users to borrow amounts ranging from P20 to P1,500 without additional charges beyond the interest, which makes it an accessible option for many. The application process is straightforward, requiring users to simply login to their Smega account, navigate to the Quick Loan option, and follow the prompts provided. The entire transaction is designed to be quick, ensuring that eligible customers can access funds in real-time when needed.

Repayment terms for the Smega Quick Loan are concise and clear, with the loan amount due within 30 days at an interest rate of 10%. Should the loan go unpaid after the initial 30 days, a penalty interest of 5% is applied on the first and second month of default respectively. To enhance convenience, Smega has incorporated an auto-deduct functionality, which automatically settles the loan from the user's account after the due date if not manually paid. However, customers can also pay back the loan manually, which ensures flexibility in managing their finances.

To determine if you are eligible for the Smega Instant Loan, simply log into your Smega account and navigate to the loan feature. Check if you qualify and apply in just a few steps for an immediate financial solution.

Smega, in partnership with Hollard Botswana, proudly introduces the Karabo Funeral Plan, an addition to its widening services portfolio. This plan has been created to assist individuals in dealing with financial challenges that unforeseen events such as death, can bring. The Karabo Funeral Plan is designed to reduce the financial stress associated with funeral arrangements, providing a smart approach to planning for life's unpredictable moments.

By offering the convenience of reasonable monthly contributions drawn directly from your Smega account, this plan safeguards your financial stability even in times of sorrow. Experience peace of mind with the funeral cover for as little as P10 to P25 per month, providing a substantial cover range from P10,000 to P25,000.

Karabo Funeral Plan Packages: