The Mining Commission SACCOS has obtained a positive audit report for its financial statements as of December 31, 2023, following an evaluation by the Cooperative Auditing and Management Agency (COASCO) in mainland Tanzania.
Amina Kitua, a representative from COASCO, shared this news during the fourth annual meeting of the Mining SACCOS held in Dodoma on October 18, 2024.
She pointed out that while there are some minor operational challenges that need attention, all loans issued adhered to the required procedures, which is why the audit did not raise any financial concerns.
Endrewcus Masero, Chairperson of the Mining Commission SACCOS, reported that there are 900 employees within the commission, but only 426 are currently members of the SACCOS.
This number is considered low, as the aim is for all employees to participate. From January to September 2024, the SACCOS welcomed 53 new members, achieving 26% of its target of 200 new members.
Masero emphasized ongoing efforts to encourage more employees to join SACCOS, starting from the Mining Commission Headquarters and extending to all Regional Mining Offices.
He also noted that the SACCOS has successfully issued loans totaling TZS 394 million to 86 members, which constitutes 20.19% of the total membership.