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Rwf1.3 billion stolen from cooperatives in 6 years, 174 people under investigation

By IGIHE
On 9 February 2019 at 04:42

Rwandan cooperatives have lost over Rwf1.3 billion to embezzlement while the Savings and Credit Cooperatives (SACCOs) lost Rwf 1.7 billion of which Rwf240 million were recovered in six years.

Of the Rwf1.3 billion stolen from private cooperatives, only Rwf214.000 was recovered while 174 people are under investigation suspected of having a hand in the embezzlement.

The numbers were released by the Minister of Trade and Industry, Soraya Hakuziyaremye as she appeared before Parliamentary Committee on Agriculture, Livestock Development and Environment on Friday.

The Minister was asked by Honorable Jeanne d’Arc Uwamariya, the strategies the Ministry and organs they partner in cooperatives management has taken to curtail rampant embezzlement witnessed in private cooperatives and government managed Savings and Credit Cooperatives (SACCos) which result in the loss of public funds.

“All those 174 people were taken to courts of law and are still under investigation. Until today, Rwf240 million were recovered since December last year when the ongoing funds recovery process in SACCOs started. The objective is to have recovered 60% of funds stolen from SACCOs by the end of February this year,” Hakuziyaremye added.


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