Phikwe miners SACCOS accounts frozen

Miners FILE PIC
Miners FILE PIC

SELEBI-PHIKWE: Selebi-Phikwe Miners Savings and Credit Cooperative Society’s bank accounts have been frozen and loans suspended with immediate effect while extensive investigation is ongoing to determine if there has been any misuse of resources particularly on expenditure.

SPM SACCOS has been facing operational challenges following the BCL and Tati Nickel Mines closure in 2016 and had membership drop from 2,280 to the current 694, thus seriously affecting its cash-flows that threatens its survival.

In a bid to save and maintain the Society, the Department of Cooperative Development conducted two consecutive audits for 2016 and 2017 and a subsequent inspection for the period up to August this year.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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