SACCOS’ 2tri/- targeted to boost capital access

DODOMA: TANZANIA’S savings and credit cooperative societies (SACCOS) circulate more than 2tri/-, a financial base the government plans to build on to expand access to capital and attract investment through the 2026 SACCA Congress.

Minister for Agriculture Daniel Chongolo said the congress will enable Tanzania to showcase achievements in the cooperative sector while strengthening SACCOS as a financing vehicle for farmers, youth, women and small businesses.

He told journalists in Dodoma yesterday that the government also wanted to strengthen SACCOS systems so that members could own and manage financial institutions capable of providing affordable capital for agriculture, livestock keeping, fishing, processing and other economic activities.

The 2026 Savings and Credit Cooperatives Associations (SACCA) will be held from October 11 to 16 at the Julius Nyerere International Convention Centre (JNICC) in Dar es Salaam, bringing together more than 1,000 participants from over 40 countries. Prime Minister Dr Mwigulu Nchemba is expected to officially open the congress.

“People may think SACCOS are small institutions, but in Tanzania they circulate more than 2tri/-. This is significant capital,” Mr Chongolo said.

About 1.9 million Tanzanians currently benefit from SACCOS, underscoring their role in expanding financial inclusion.

Mr Chongolo said the congress will provide a platform for Tanzania to strengthen international cooperation, attract investment and exchange experience on the management and governance of financial cooperatives.

Held under the theme “Building Trust, Driving Transformation: The Future of Financial Cooperatives in Africa,” the congress seeks to promote trust, innovation and transformation in Africa’s financial cooperative sector.

Mr Chongolo said the event will go beyond discussions on cooperatives by providing a platform for capacity building, experience sharing, investment promotion, stronger financial services and creation of economic opportunities.

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Tanzania Cooperative Development Commission (TCDC) Chief Executive Officer, Dr Benson Ndiege said the congress will enable Tanzania to showcase its achievements and strengthen its position in the global cooperative movement.

He said rapid growth of SACCOS provided an opportunity for Tanzanian cooperatives to learn from international experience, particularly in governance and management.

“The congress will feature training sessions and presentations on cooperative management, enabling Tanzanian SACCOS to learn better practices from other countries,” Dr Ndiege said.

He added that Tanzania will use the gathering to present information on the state of its cooperative sector, particularly SACCOS, and strengthen links with international cooperative organisations.

Stronger international partnerships, he said, will help Tanzania’s SACCOS adopt better practices while creating opportunities for greater global recognition of the country’s cooperative sector.