Dr Nchemba sees trust and digital transformation as key players in advancing cooperative societies
Tanzanian Prime Minister Mwigulu Nchemba has urged cooperative societies to prioritize trust, accountability, and digital transformation to boost economic development. He emphasized that these institutions are vital for financial inclusion and supporting small-scale entrepreneurs across the continent.
Why it matters
Strengthening cooperative governance is seen as a key strategy for improving financial stability and welfare for farmers and small business owners in Africa.
DAR ES SALAAM: TRUST, accountability and digital transformation are critical to strengthening Africa’s cooperative movement and expanding its contribution to economic development, job creation and financial inclusion, the government has said.
The call was made by Prime Minister Mwigulu Nchemba during the official opening of the 26th African SACCOs Congress in Dar es Salaam, where the he emphasised the need for cooperative institutions to strengthen governance, improve transparency and embrace innovation to meet the growing financial needs of their members.
Nchemba said the congress theme, Building Trust, Driving Transformation, reflected the importance of building reliable cooperative institutions capable of turning members’ savings into productive investments.
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