Until 1937 buying association activity was pretty limited in Pretoria. In an effort to increase their turnover dealers started granting credit facilities to the general public by the early thirties. They achieved their initial goal but it was accompanied by increased outstanding debt and the related cash flow problems. Their solution, they started granting discount on cash purchases and timely set
tlement of accounts. This seemed like the opportune moment to consolidate the purchasing power (‘Koopkrag’) of the consumers in Pretoria and in 1938 Koopkrag was formed. We opened an account on behalf of our members at the different dealers, we ensured and guaranteed that different accounts were settled on the due date and thus qualified for the dealer`s settlement discount. It is this discount that we distribute to our members as an annual bonus. Over the years we’ve grown our range of products and services to include a purchase card, hire purchase financing, personal loans, short-term insurance, purchase card budget facility, group life insurance, group funeral insurance etc. Today members can buy from a variety of suppliers country wide.
