admin
Nqobile Bhebhe, Online Reporter
A forensic audit on housing co-operatives is on the cards coupled with elections for new leadership and penalties will be introduced for non-adherence to the Co-operative Societies Act, a cabinet minister has said.
The Cooperative Societies Act stipulates that cooperators should be allowed to elect their executive and have their books of accounts regularly audited.
However, in most cases, policy and practice are at variance and a few hold Annual General Meetings
Since there are no AGMs, “audit reports” are not presented to cooperators.
In her post-Cabinet briefing on Tuesday, the Minister of Information, Publicity and Broadcasting Services, Senator Monica Mutsvangwa said Cabinet has directed that discipline be enforced and maintained in the co-operatives sector.
“On Housing Co-operatives and provision of workspaces for Micro, Small and Medium Enterprises, Cabinet has directed that discipline be enforced and maintained in the co-operatives sector; that a proper financing model be availed for the sector; and that the abundant opportunities for standardized infrastructure and business development in the co-operative sector be fully exploited.
“A forensic audit of the unions will be conducted, followed by elections for new leadership, and penalties will be introduced for non-adherence to the Co-operative Societies Act,” said the minister.
Online Reporter