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The government is losing about K18 million every year as a result of cooperatives failing to submit annual returns, Minister of Small and Medium Enterprises Development, Elias Mubanga, has disclosed.
Mubanga said that out of the 139,000 cooperatives registered in Zambia, only around 10,000 are compliant with annual returns.
Speaking during a media briefing on the promotion of the cooperative movement in the country, Mubanga said the Ministry would intensify follow-ups and deregister persistent defaulters.
“The government is very concerned with the low submission rate of annual returns. The deadline is clearly indicated on the ZamPortal, and returns are expected three months before the close of each calendar year,” he said.
The minister emphasized that cooperatives play a critical role in fostering national development and warned that non-compliance undermines this contribution.
He further noted that all cooperatives applying for artisanal mining licenses will now be subjected to vetting and certification by the Ministry.
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Mubanga explained that under Statutory Instrument (SI) No. 25 of 2024, cooperatives were legally mandated to submit annual returns as stipulated in the Cooperatives Act.
“The same law bars non-compliant cooperatives from accessing funding from the Ministry,” he added.
He urged all cooperatives to work closely with district cooperative officers, adding that his Ministry was collaborating with the Ministry of Mines to resolve challenges surrounding the issuance of artisanal mining licenses.
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