Create an Account

Create a profile on MILCO.

Dear valued prospective member, Kindly note that to become a member of Milco, you need to deposit M100.00 (M50.00 is a non refundable fee and the other M50.00 is your first minimum share) into the following bank account details:

Account Holder: Made In Lesotho Retail Cooperative Society Ltd
Bank Name: Standard Lesotho Bank
Account Number: 9080008250096
Branch: Roma Branch
Reference should be your Full names, .e.g. ‘Makuena Lesiea.

There are bank charges which you will pay every time we retrieve funds from your account for your monthly purchase of shares: e.g. Standard Bank charges M15.75 per transactions.

After payment, you can register on this website https://milco.co.ls/Member_register by filling the details below.

After registration, you will receive an email notification showing that your registration is awaiting approval. Once your registration is approved, your will will be notified with an email and you will be able to login to your profile using your registration's username and password

Personal Details

upload passport or ID image

Bank Details

upload proof of payment

Terms and Conditions

By clicking these you agree to terms and conditions

TERMS AND CONDITIONS

1.
MEMBERSHIP AGREEMENT

This MEMBERSHIP AGREEMENT (hereinafter referred to as “the Agreement”) is made on the day of the submission of this form on this platform. The agreement is made by and between the applying member, hereinafter referred to as “the Undertaking Member” of the names in the application form and the Made-In-Lesotho Retail Cooperative Society Ltd (MILCO) (a cooperative registered in and under the laws of the Kingdom of Lesotho, under the Registration Number A010318 and hereinafter referred to as “the Cooperative”).

RECITALS

WHEREAS, the Undertaking Member is desirous to become a member of the Cooperative.
WHEREAS, the Undertaking Member agrees to abide by and be faithful to the laws, regulations, constitution, by-laws, policies, and rules governing and/or relating to the Cooperative, the Cooperative’s members, the Cooperative’s officers, and the Cooperative’s affairs.
WHEREAS, the Undertaking Member accepts the Cooperative’s powers to act in accordance with the laws, regulations, constitution, by-laws, policies, and rules governing and/or relating to the Cooperative, the Cooperative’s members, the Cooperative’s officers, and the Cooperative’s affairs. WHEREAS, the Undertaking Member has paid the initial share capital and the registration fee prescribed by the Cooperative.
WHEREAS, the Undertaking Member agrees to act in good faith at all times.

NOW THEREFORE, the Undertaking Member agrees to the following:

ARTICLE 1 – MEMBERSHIP
The Undertaking Member’s membership identification number is: MILCO – 000

ARTICLE 2 – INVESTMENTS UNDERTAKING
2.1 The Undertaking Member shall open and/or keep, and maintain a bank account at a bank that is registered and physically located within the Kingdom of Lesotho through which transactions with the Cooperative shall be conducted.

2.2 The Undertaking Member shall pay monthly, a minimum of M50 investment with the Cooperative through a debit order from their bank account at a bank that is registered in and physically located within the Kingdom of Lesotho.

ARTICLE 3 – SHAREHOLDING AND DIVIDENDS
3.1 The Undertaking Member shall hold shares in the cooperative (as determined by the policy of the Cooperative from time to time) depending on the total value of the money he or she has contributed at any given time or at the time of sharing of dividends

ARTICLE 4- BENEFICIARY
4.1 The undertaking Member herein appoints the person mentioned in the form under beneficiary as his/her heir in an event of the undertaking member’s demise.

ARTICLE 5- SEVERANCE
5.1 The illegality, voidness, or unenforceability of any clause, or part thereof, shall only have the effect of voiding that clause, or part thereof, and not the entirety of this agreement.

ARTICLE 6– GOVERNING LAW
6.1 This agreement shall be governed by and construed in accordance with the laws of the Kingdom of Lesotho.

2.
DEBIT ORDER AGREEMENT

This DEBIT ORDER AGREEMENT (hereinafter referred to as “the Agreement” is made on the day of submission of this form on this platform. The agreement is made by and between the applying member hereinafter referred to as “the Undertaking Member” of the names filled in the application form and the Made-In-Lesotho Cooperative (MILCO) Society.

RECITALS

ARTICLE 1 – TRANSACTIONS UNDERTAKING
1.1 The Undertaking Member shall open and at all times keep, and maintain a bank account at a bank that is registered and physically located within the Kingdom of Lesotho through which transactions with the Cooperative shall be conducted.

1.2 The Undertaking Member shall communicate as early and immediately as possible, in writing, any change in any part of his/her banking details.

1.3 The Undertaking Member agrees and authorizes that a monthly debit order shall be processed against his/her bank account identified in Article 1.1 as detailed in this agreement.

1.4 The Undertaking Member shall pay monthly, a minimum agreed on the application form for their investments with the Cooperative through a debit order from their bank account at a bank that is registered in and physically located within the Kingdom of Lesotho.

1.5 Pursuant to Article 2.3 and Article 2.4, the Undertaking Member shall not vary, alter, modify, or in any way make changes to the terms of the debit order arrangement or the agreed monthly deposit amount without consent of the Cooperative.

1.6 Pursuant to Article 2.5, any variation, alteration, modification, or any change made to the terms of the monthly deposit debit order arrangement or the agreed amount thereof shall be made in agreement with the Cooperative and such agreement shall be recorded in writing.

1.7 Notwithstanding, and without prejudice to Article 2.3, 2.4, 2.5 and 2.6, the Undertaking Member may deposit additional monthly sums in addition to the minimum sum agreed herein as long as they are in multiples of M50 to buy fixed amount of shares.

1.8 The Undertaking Member agrees to pay any bank charges relating to the debit order arrangement in this agreement.

ARTICLE 2 – BREACH
2.1 If the Undertaking Member’s bank account fails to discharge a deposit payment for any month, then such month’s deposit payment shall remain owing in addition to deposits due each month as agreed in Article 2.

2.2 If the Undertaking Member’s bank account detailed in Article 1.1 fails to discharge payment of deposits as agreed in Article 2.3, for a period of 3 consecutive months, then such member shall be dealt with accordance with the Cooperative’s policy.