28 November 2012

Tanzania: Saccos Leaders in Zanzibar Swindle 58 Million

MEMBERS of Savings and Credit Cooperative Societies (SACCOs) in the Ministry of Health Zanzibar have condemned leaders who have swindled their money.

In an extra-ordinary meeting held at the Ministry of Information hall last weekend, the furious members asked for a thorough report that indicates how 58m/- was swindled, then take legal measures against defaulters.

The SACCOs Secretary Mr Ramadhan Khamis distanced himself from the "scam", alleging that the chairperson and other clerks were involved.

"I am not involved in this loss at the Peoples' Bank of Zanzibar (PBZ), and the signatories should know how the money was withdrawn and used for personal gains," Khamis said.

"We need our money back, and those who did it should not be spared," Ms Asya Masauni said. Opening the meeting, the director in the department of cooperatives development Mr Khamis Daudi Simba said that people elected to lead SACCOs should act according to laws and regulations.

Copyright © 2012 Tanzania Daily News. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.