The challenges afflicting auctioning of property have for long remained thorny in the public domain with different people involved crying foul, If not nipped in the bud, it may become a serious impediment to doing business in the country. On one hand, commercial banks are claiming to be cheated because property under auction end up going for less, even below what they are owed by creditors. On the other, creditors are also claiming they are rigged in the sense that banks mostly look at recouping their money and end up selling property below the market value. ALSO READ Can change in auction law address property devaluing? At the centre of this is a shadowy clique that players in the industry have tagged the ‘mafia ring’ who collude to cheat the public auction system, despite a robust legislation that was introduced two years ago, chiefly to curb corruption in public auctions. Among the key innovations that came with the law that was legislated via a ministerial order relating to the electronic execution of enforcement orders included digitalizing the process to reduce human interaction in the auctioning process. ALSO READ: Top cases of injustice in property auctioning The latest malpractices in the system were established through a report by anti-corruption watchdog, Transparency International Rwanda Chapter, which among other recommendations suggested a change in the legislation to plug the existing gaps. However, while the suggestion from the watchdog is coming from a good place, it is important that in principle, changing of a legislation be considered as a last option, after all other measures have failed to yield the necessary results. Particularly, dismantling this clique will not necessitate amending the law but rather spirited efforts by all involved to ensure the rotten apples among them are identified and isolated to not contaminate others. ALSO READ: Govt scraps auctioning taxpayer’s property For instance, it is a known fact that the people involved in this ring include property valuers, professional bailiffs, some officials from commercial banks and brokers who collude to cheat either the banks or owners of property that goes under the hammer. Charity begins at home. These professional bodies must tighten measures to hold their members accountable and live to their oath. Banks too should reign in their employees. Lastly, there should be enough awareness around public auctioning where people should be encouraged to avoid such inconveniences by working ahead to find buyers for their properties other than wait for auctioning that exposes them to these malpractices.
