Savings co-op�s revenues top P1m

Monday, December 08, 2014

Building wealth: Members of the Finance Ministry's cooperate society during their AGM. PIC MORERI SEJAKGOMO

The Matlotlo Savings and Credit Co-operative Society (SACCOS) has reported increased overall profits for its current financial year, despite nonparticipation of members in the past four years.

The society, which is run by employees of the Ministry of Finance and Development Planning, recorded a total income of P1.2 million and a net profit of over P490, 000 for the year ended 30 April, 2014. Last year its total income amounted to about P879, 000 and a net profit of P379, 000.

Speaking during the society’s annual general meeting recently, SACCOS chairman, Janet Makgolo expressed concern that members were not participating in the society due to lack of resources and commitment.

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Savings co-op�s revenues top P1m

The Matlotlo Savings and Credit Co-operative Society (SACCOS) has reported increased overall profits for its current financial year, despite nonparticipation of members in the past four years.

Govt inks $4bn renewable energy deal with Indian firm

Detained Mexican 'Drug Kingpins' wanted in Mozambique

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Micro-procurement maze demands urgent reform

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Micro-procurement maze demands urgent reform