MORE THAN 42 MILLION FRW FOR COTAMON COOPERATIVE DISAPPEARED.

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MORE THAN 42 MILLION FRW

 

 

 

 

 

 

 

 

 

More 42millionfrw could not be explained how it was used when the cooperative for motorcyclists in Ngoma district “COTAMON” was audited in this month of December 2011.

The cooperative members were surprised to find that such a big amount could just disappear. They think that their money was used by the cooperative leaders.

Munyampundu Sixbert a member to this cooperative says that the former president who was called Gahamanyi was always rumoured to be using their money and now it is evident that he used it since this money disappeared during his time of rule. He is also accused of using 11millionsfrw according to the report given.

Munyampundu said that the reason to why cooperative money disappears and members know about it when it is too late is because members don’t put much strength in knowing to evaluate how the cooperative makes profits. To them the important thing is to be free to work.

He says, “as long as you are left alone to work, it is rare to think about the cooperative because whoever is put there will use our money but it would be nice that the one who is caught be held responsible.”

This report was given after the audit was done for the last two years and that is from 2009 up to this year December. The auditors from the national level say that more than 42 millions could not be explained how they were used but the cooperative leaders say that this money was used well but due to the fact that they don’t know much about accountancy and finance, some receipts were not kept for later use.

UWABAGABO Vedaste, the chairperson of the cooperative said that the controversy was created by the 15 millions that they used to buy motorcycles of its members but they did not sign anywhere to show that they received the motorcycles. Another thing is the money they gave as contribution to support education of which they were never given receipts or reports.

Money that was used as cooperative members’ salary, the auditors said that they have to bring ti back since it is not accepted for cooperative members to get salary but they can be compensated for a day if they didn’t work. The cooperative didn’t know such details.

After reporting to the cooperative members, the auditors gave a period of 15 days to the cooperative leaders to make a written report on how the 42millionfrw were spent. Among those who were asked for explanations include who kept security of motorcycles. They are meant to pay back the salary they were given since members are not supposed to get salaries.

 

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About the author

Ashley Stuart is the Editor (English) for RwandaEye. She has worked as the lead project manager for Dunkirk Business Consultancy and is an authority on Foreign Markets. She is the major contributor of English articles for RwandaEye.

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