08 Mar 2017

Parliament has been informed that the financial position of the Selebi-Phikwe Miners Savings and Credit Co-operative Society (SPM SACCOS) before the closure of BCL Mine will be reflected in the Audited Financial Statements for the financial year 2015/16.
This was said by the Assistant Minister of Investment, Trade and Industry, Mr Biggie Butale in response to a question from the Specially Elected MP, Mr Mephato Reatile.
“The audit report has not yet been finalised pending the corrections of the 2014 audit report, which is being done by independent auditors engaged by the management of the co-operative society. The report is still being verified by the society’s management board,” he said.
Mr Butale said the audit report would provide recommendations which would be submitted to the Selebi-Phikwe Mine SACCOS members during their annual general meeting still to be convened. He added that ‘it is at this meeting where the members will resolve on issues that concern their welfare and any other issues affecting the society’s operations.’
In addition, Mr Butale said the financial position of SPM SACCOS for the interim period December 31, 2016 would be made available upon completion of the audits.
Furthermore, he stated that the society has a staff complement of 19 employees across its three branches; 15 at Selebi-Phikwe which is responsible for BCL mine and it is the society’s head office, two in Palapye for Morupule Mine and two in Francistown for Tati-Nickel Mine, Mupane Mine and BOTASH. “Ten of the staff members are permanent and pensionable while eight are on two year contracts and one is temporary,” he said.
The assistant minister said currently, all of the society’s branches are operational, serving some members who seek various services.
“The society’s management will take action as they consider appropriate, in consultation with members, after consideration of the findings and recommendations from audits,” said Mr Butale.
SPM SACCOS was registered on May 29, 1979 as a Thrift and Loan Co-operative Society and later converted to a SACCOS in 2001. The society has an active membership of 2 897 of which 1 960 are from BCL Mine, 429 from Tati Nickel, 347 from Morupule, 63 from Mupane Mine and 98 from Botswana Ash.
After the closure of the BCL and Tati Nickel Mines, the ministry through the department of Co-operative Development appointed officers from a pool of its auditors to conduct an audit into the affairs of SPM SACCOS for the financial year 2015/16 as well as the interim audit for 2016/17, in accordance with the provisions of Section 46 © of the Co-operative Societies Act, Parliament was informed.
Mr Reatile had asked the minister to state the closing balance of SPM SACCOS prior to liquidation of BCL and the benefits of the former employees who were members of SACCOs.
He also wanted to know the current financial balance of SACCOS accounts and whether the employees of SACCOS are still in the office and who are they serving. ENDS