The Tanzania Cooperative Bank, also known as Coop Bank, has announced a strategic partnership with the African Confederation of Cooperative Savings and Credit Associations and the Tanzania Federation of Savings and Credit Cooperative Unions to support the 2026 SACCA Congress. The event will take place in Dar es Salaam from October 11 to 16, 2026, and is expected to bring together over 300 participants from more than 35 countries. The conference aims to discuss the development of Savings and Credit Cooperative Societies, exchange experiences, and develop strategies to strengthen the cooperative finance sector across Africa.
Coop Bank's Managing Director, Godfrey Ng'urah, stated that the bank's participation reflects its commitment to strengthening the cooperative economy by providing financial solutions that enable Savings and Credit Cooperative Societies to grow and improve operational efficiency. The bank, which is 51 percent owned by cooperative societies, continues to support the development of Tanzania's cooperative sector through tailored financial services. Ng'urah emphasized that Savings and Credit Cooperative Societies play a significant role in Tanzania's cooperative economy, particularly in mobilizing capital and strengthening members' economic activities.
According to Ng'urah, Savings and Credit Cooperative Societies make a substantial contribution to capital investment compared to other categories of cooperatives. Coop Bank will showcase a range of financial products and services at the conference, designed to help cooperative members and customers access capital, expand businesses, and increase investment. The services also aim to support the growth of small and medium-sized enterprises and promote the development of agricultural value chains, creating additional economic opportunities for cooperative members.
Coop Bank prioritizes affordable lending to cooperative societies, offering loans at single-digit interest rates, which are lower than the double-digit interest rates commonly found in the market. This initiative aims to reduce borrowing costs and enable cooperative members to access financing for expanding their economic activities. The bank's participation as the conference's official banking services partner is expected to strengthen relationships between the bank and Savings and Credit Cooperative Societies across Africa.
Tanzania SACCOS Union Chief Executive Officer, Hassani Nyone, stated that the conference provides a platform for leaders, executives, and development partners to discuss strategies for strengthening savings and credit cooperatives across Africa. Nyone emphasized that Coop Bank's participation will facilitate knowledge-sharing and create new opportunities for financial cooperation. He added that the development of Savings and Credit Cooperative Societies in Tanzania is critical to promoting inclusive economic growth and supporting the objectives of the Tanzania Development Vision 2050.
The conference is expected to serve as a platform for exchanging knowledge, building collaborative networks, and developing strategies to address operational challenges facing Savings and Credit Cooperative Societies. Through the conference, stakeholders aim to strengthen financial and institutional partnerships, helping Savings and Credit Cooperative Societies improve the quality of services offered to their members and contribute to broader economic development within their communities.
The partnership between Coop Bank, ACCOSCA, and SCCULT reflects a significant effort to support the growth and development of Savings and Credit Cooperative Societies in Tanzania and across Africa. The 2026 SACCA Congress is expected to be a pivotal event in promoting cooperation and knowledge-sharing among stakeholders in the cooperative finance sector. Key discussions will focus on strategies for strengthening Savings and Credit Cooperative Societies and promoting inclusive economic growth.
Key points
- Coop Bank partners with ACCOSCA and SCCULT to support the 2026 SACCA Congress in Dar es Salaam.
- The conference aims to discuss the development of Savings and Credit Cooperative Societies and strengthen the cooperative finance sector across Africa.
- Coop Bank offers affordable lending to cooperative societies at single-digit interest rates to reduce borrowing costs.
