Five implicated Rwf300m loss

RWAMAGANA - One person is being held while four others have been released on bail, for causing Twibumbe Rice Cooperative Union (COCURIRWA) a financial loss of Rwf 300 m.Theogene Uwizeye, the cooperative’s inspectorate committee chairman, said that the loss was discovered after an external audit - the first in a number of years. “I am short of words. The cooperative has registered unimaginable losses. Imagine losing Rwf300.” Uwizeye said. “Since the inception of this cooperative, in 2004, none of its members have enjoyed profits,” The former chairman, Joseph Sematama is being held at Insinda prison while the former vice chairperson, Athanasie Mukabatsinda, the treasurer and two accountants were released on bail. “This is a demoralising situation, I am a relatively a new entrant but I think we have a long way to go.” The New Times established that the case was lodged in court on July 20 2009, and the suspects are all expected to appear in court as soon as prosecution is ready with its evidence. Twibumbe Cooperative Union encompasses small rice cooperatives in Kayonza, Rwamagana and Ngoma districts, with monopoly rights to buy and process rice in the three districts. Members of these small cooperatives expressed dismay over the losses, wondering why the cooperative had not been audited for years. “We are having a big problem. For instance members of a cooperative in Kayonza known as Umuhuza have not realised any profits since they joined the cooperative,” Emmanuel Ngezahumuremye, an agriculture and cooperatives officer in Kayonza remarked. Ends