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:
- To encourage thrift among its members by according them an opportunity to accumulate savings;
- To create and develop a source of funds for lending to qualified members at comparatively low and reasonable rates of interest;
- To provide an opportunity for its individual members to improve their respective economic and social conditions-, and;
- 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.