Cooperative Societies in Kilifi county, urged to submit their Accounts Books for auditing

Cooperative Societies in Kilifi County have been urged to submit their Accounts Books for early auditing, Sacco Review has learnt.

Speaking to Sacco Review in her office in Kilifi town recently, Kilifi County deputy Cooperative Director, Mary Mkare revealed that early auditing of Cooperative Societies Accounts Books would enable members to know exactly their Cooperatives financial status.

She, however disclosed that delayed auditing of Cooperatives Accounts Books would deny members to know the financial position of their Cooperatives.

The County Deputy Cooperative director further emphasized the importance of early auditing of Cooperative Societies Accounts Books in the region.

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“Early Auditing of Cooperatives Accounts Books is one way of ensuring transparency and accountability respectively”. noted Mkare.

She advised Cooperative Societies members in the county to embrace saving culture rather than consuming culture to enable them get bigger loans at the end of the transaction period and also implement their personal development projects more effectively and efficiently.

Kilifi County deputy Cooperative Director also asked those county residents who have not joined Cooperatives to do so immediately and invest heavily, hence secure loans to accomplish their personal development projects.

“Many people in the county have so far managed to implement their personal development projects through taking loans from their respective Cooperatives”, explained the county Deputy Cooperative director.

She also stated that joining Cooperatives in the county is the right direction to go.

Mkare also advised members not to default, noting that defaulting is a serious offence, which would deny them any loan qualification in the future.

The county deputy Cooperative director  has also urged members to borrow loans wisely and pay promptly to enable other members to benefit from the same loan products.

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“You should therefore use your loans taken from the cooperatives for the intended purposes only, but you should not divert it for other unplanned uses”, she advised members.

She further revealed that the government is currently in the process of reviving the giant collapsed Magarini Sand Harvesting Cooperative Society in Magarini sub county, in Kilifi county which collapsed several years ago.

Disclosing that the move would enable local communities to join it in large numbers, hence secure loans to boost their daily businesses.

“Transparency and accountability would enhance effective operations in the Cooperatives”, she added.

By Tsozungu Kombe

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