Moshupa distraught as co-op millions allegedly vanish
Friday, February 17, 2023 | 460 Views |
Empty: Moshupa Multi-Purpose Co-op shop empty shelves
Moshupa Co-op members are crying foul that their money could have been looted with the business on its knees and over 8,000 members' savings amounting to over P3.5 million having vanished into thin air.
This is in addition to businesses run by the co-op that includes a general dealer, liquor restaurant, and agricultural shop having closed shop as there is no stock. Mmegi visited Moshupa during the week and met desperate, hurt, and hopeless members of the co-op licking their wounds. Information gathered suggests that the co-op committee and or management could have fleeced them of their monies which were never supposed to be used for any business investments.
These are not ordinary times. Yet, history reminds us that this nation has navigated difficult waters before and did so by clinging firmly to the principles of prudence and macroeconomic stability. From independence in 1966, Botswana chose a path few resource-rich countries managed to sustain. Diamond revenues were not treated as windfalls for reckless expansion, but as capital to be managed with caution. The establishment of fiscal rules,...