Balozi Co-operative Savings and Credit Society Ltd was founded and registered in 1975 under the Co-operative Society Act. The objectives for which the Society was established have been as follows:

1. To encourage thrift among its members by according them an opportunity to accumulate savings;
2. To create and develop a source of funds for lending to qualified members at comparatively low and reasonable rates of interest;
3. To provide an opportunity for its individual members to improve their respective economic and social conditions-, and;
4. To perform the functions and exercise the powers designated for savings and credit co-operative societies under the applicable law. 

Receipt of savings as shares and deposits as well as disbursing loans to its members remain the Society's principal activities.