The Cooperative Bank of Tanzania (Coop Bank) has announced a strategic partnership with the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) and the Tanzania Cooperative Union of Savings and Credit Societies (SCCULT) to support the SACCA 2026 congress. The event, taking place in Dar es Salaam from October 11 to 16, 2026, aims to discuss the development of savings and credit cooperatives (SACCOS), share experiences, and formulate strategies to strengthen the sector in Africa.
According to Coop Bank's Managing Director, Godfrey Ng'urah, the bank's involvement reflects its commitment to promoting cooperative economy by providing financial solutions that enable SACCOS to grow, increase operational efficiency, and improve services to members. As a bank owned 51% by cooperative societies, Coop Bank continues to fulfill its role in supporting the development of the cooperative sector through tailored financial services.
Ng'urah emphasized that SACCOS play a vital role in Tanzania's cooperative economy, particularly in mobilizing savings and promoting members' economic activities. He noted that these societies have a significant impact on capital investment compared to other cooperative groups, such as agricultural cooperatives. During the congress, Coop Bank will showcase its various financial products and services designed to empower cooperative members, clients, and citizens to access capital, grow businesses, and increase investments.
The bank's loan offerings prioritize affordable credit for cooperative societies, including some loans with single-digit interest rates, differing from many market rates that are often in double digits. This move aims to reduce borrowing costs and enable cooperators to access funds for economic development. Hassan Nyone, Chief Executive Officer of the Tanzania Savings and Credit Cooperatives Union (SCCULT), highlighted the congress as an essential platform for leaders, executives, SACCOS members, development stakeholders, and government representatives to discuss strategies for strengthening savings and credit cooperatives in Africa.
Nyone expressed appreciation for Coop Bank's involvement as an official banking partner, which will enhance relationships between the bank and African SACCOS, facilitating experience sharing and opening new opportunities for financial cooperation. He emphasized that the development of SACCOS in Tanzania is crucial for promoting inclusive economic growth and contributing to the country's development goals, particularly in expanding economic opportunities and improving citizen welfare.
The SACCA 2026 congress is expected to be a platform for knowledge sharing, networking, and strategizing to address operational challenges facing SACCOS while leveraging new opportunities in the financial sector. Through this event, stakeholders aim to strengthen financial and institutional partnerships, enabling SACCOS to provide better services to members and contribute to community economic development. Coop Bank's support for the congress demonstrates its commitment to the growth and development of the cooperative sector in Africa.
The congress will bring together over 300 participants from more than 35 countries, providing a unique opportunity for SACCOS to learn from each other and from experts in the field. By sharing experiences and best practices, SACCOS can improve their operations and services, ultimately contributing to the economic development of their communities. Coop Bank's involvement in the congress is a significant step towards promoting the growth and development of SACCOS in Africa.
Key points
- Coop Bank partners with ACCOSCA and SCCULT to support the SACCA 2026 congress in Dar es Salaam.
- The congress aims to discuss the development of savings and credit cooperatives (SACCOS) and formulate strategies to strengthen the sector in Africa.
- Coop Bank offers affordable credit to cooperative societies, including loans with single-digit interest rates.
