BY SETHABILE MYENI
MBABANE – Bunye Betfu Buhle Betfu Savings and Credit Co-operative Society (SACCO) has promised to refund what is due to its members.
This was disclosed by the Board Chairperson, Nompumelelo Nkhambule this morning.
SACCO is mostly used by civil servants and has 5 784 members.
The promise to refund members comes after the Times of Eswatini reported that over 100 civil servants were swept off their salaries by SACCO.
Nkhambule explained that this was because of penalties and monthly installments that were owed to the SACCO.
“We have found out that the members were defaulting because of debit orders and we were also changing our accounting system in the organization. When the information was transferred to the new accounting system, the system dictated the arrears and penalties of each member and it also took the monthly installments of the members that were defaulting,” she said.
She mentioned that their accounting staff was still learning the new system and they are working on paying the members back because they have done the calculations on how much they should be taking.
“The whole weekend our system administrator was working on to refund the members and they are done with the calculations. I have also received the spread sheet and I am still going through it after I am done they will then process the refunds.
We promise every member that they will receive their refunds before the end of the week,” said Nkhambule.
