Phikwe Cooperative resurrects

SELEBI-PHIKWE: After being forced to shut down and with the prospect of losing assets worth P14 million in 2011, the Selebi-Phikwe Cooperative Society is now back on its feet.

Key to the resurrection of the Cooperative was a decision taken in 2012 to enter into property development, the society’s chairman Tebogo Venson told Mmegi Business. The Cooperative society now generates about P155, 000 from rentals per month. According to Venson, they are now happy that they managed to clear all their debts that were in the region of between P3 to 4 million.

He explained that they discovered that the closure of the society by the Commissioner of Cooperatives was as a result of too much political involvement in the running of the society hence things were not done properly.

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