About 18.4 million Kwacha worth of revenue is being lost annually by government due to unpaid annual returns by cooperatives in the Country.
Small and Medium Enterprise Development Minister, Elias Mubanga disclosed that only 10 000 out of 139 000 registered cooperatives in the Country have been filing annual returns.
Mr Mubanga explained that all registered cooperatives are mandated to file 133 Kwacha annually as returns, in line with the cooperatives act number 29 of 1998, but bemoaned the low compliance levels.
Speaking during a press briefing in Lusaka, Mr Mubanga explained that this has made it difficult for government to evaluate the performance of cooperatives in the Country which are expected to contribute to job creation and economic development.
The Minister has since warned that any failure to abide by payment of administrative fees, further emphasising that any defaulting cooperatives should not be allowed to access government empowerment programmes as well as artisanal mining licenses.
“Any defaulting cooperatives should not be allowed and I emphasise should not be allowed to access empowerment programmes such as those provided under the Constituency Development Fund (CDF) in the Ministry of Local Government and Rural Development, Farmer Input Support Programme (FISP) in the Ministry of Agriculture Youth Empowerment Fund, citizens economic empowerment fund and artisanal mining licenses”, Mr Mubanga stressed.
Mr Mubanga noted that his Ministry will therefore collaborate with all government Ministries providing empowerment programmes to make it mandatory for any cooperative applying for such to attach evidence of annual returns to their submissions.
“This requirement will also apply to artisanal mining whenever they are applying for licenses”, he stressed.
He has since urged all cooperatives in the Country to cooperate with the Ministry officers at provincial and district levels, by submitting their returns as mandated.
“The deadline for submission of returns is indicated on the cooperative societies management system on the Zamportal and falls within three months after the close of each respective cooperative’s financial year end”, the Minister indicated.