Government to probe CODERIVAM over misallocation of funds

EASTERN PROVINCE Nyagatare — In a rush to pinpoint a misallocation of funds, the Coderivamu rice factory in Rukomo sector is to be audited, said state minister of cooperatives and investment Innocent Kalega.

EASTERN PROVINCE

Nyagatare — In a rush to pinpoint a misallocation of funds, the Coderivamu rice factory in Rukomo sector is to be audited, said state minister of cooperatives and investment Innocent Kalega.

While addressing Coderivamu rice factory top management officials at its head office in Rukomo sector Innocent Karega, said the rice processing plant will have to be audited after allegation of missing funds were made.

The factory, a para-statal, has reported that millions of Francs were embezzled.

“The auditing team will be comprised of the district team and a group of experts from the ministerial level to investigate how Coderivamu has been managing the factory finances,” Kalega said.

“We need to audit and see how it all accumulates and if the ministry is to intervene we will have to first identify where things are not moving smoothly.”

According to Coderivamu, cooperative director Fracoius Uhoranaingoga got a loan from Bank Populaire before the 1994 Genocide worth Frw12 million and again after the 1994 Genocide worth Frw24 million.

Uhoranaingoga also revealed that also the cooperative has tax dates of money worth Frw80 million.

The minister of cooperatives is on his two-day study tour in Nyagatare, aimed at establishing ways the ministry can intervene to assure capacity building.

“The ministry is working hard to mobilize local cooperatives to grasp how cooperatives operate and then the ministry is aiming to connect them to banks to help them get loans because many will be able to understand what they need to push their cooperatives to develop,” Kalega said.

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