TCDC driving co-ops towards commercial success

DODOMA: Tanzania Cooperative Development Commission (TCDC) is on a mission to transform the country’s cooperatives into thriving commercial entities.

By empowering cooperatives to generate profits and become self-sustaining, TCDC aims to uplift the lives of millions of Tanzanians.

TCDC Chairman Abdulmajid Nsekela said that within the two years of the commission’s mandate, his priority is to make cooperatives in the country commercially viable to benefit its members.

“We continue to build the capacity of our cooperatives in various areas so that they can operate commercially,” Mr Nsekela, who is also CRDB Group Chairman, said during a meeting of field officers and cooperative leaders from all districts nationwide.

The meeting was called by President Samia Suluhu Hasssan and was held at the Chamwino State House in Dodoma over the weekend.

The areas include the revival and construction of new industries to add value to farmers’ crops, the identification and valuation of cooperative assets, and investment in government bonds, purchasing company shares, importing and distributing inputs for cooperatives and farmers, as well as building warehouses.

The chairman said they are changing the mindset of the entities from working solely by providing services to profits generated from the commercial operation of their cooperatives.

TCDC has worked on seven priorities aimed at improving the environment for farmers, livestock keepers, fishermen, and cooperatives from other sectors where the enthusiasm to join continues to be promoted.

Other priorities, he mentioned, include ensuring that cooperatives are run digitally as they have already installed the cooperative management system (MUVU) which is used to manage all TCDC activities, thus facilitating the availability of accurate information and statistics.

By the end of June, Mr Nsekela said, the MUVU system had registered 6,361 cooperatives and 1,604,224 cooperative members.

Another priority is to promote cooperatives in various economic sectors including mining and finance, as well as special groups. The commission is also promoting cooperation with various development partners with the aim of helping to strengthen cooperatives in the country.

Another thing that has been done and continues to be emphasized, he said, is the review and amendment of the cooperative policy to amend the Cooperative Societies Act No. 6 of 2013. All necessary steps have already been completed and the Ministry of Agriculture is overseeing the submission of the relevant bill to parliament.

To have economic power, Nsekela said TCDC has completed the legal procedures for establishing the National Cooperative Bank and has already obtained a license from the Bank of Tanzania (BoT) for its establishment.

“Mr President, the expectation is to launch this bank at the end of September” said Mr Nsekela.

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CRDB has invested 10.2bn/- in capital and expertise in the Co-op Bank equals to 20 per cent of ​​shareholding.

Addressing the participants of the meeting, President Samia said the agricultural sector is important for food security and the development of Tanzanians, therefore she recognizes the great responsibilities of field officers and the contribution of cooperatives in the country.

She believes the country can feed Africa and make a significant contribution to global food security by empowering farmers to adopt modern agricultural practices while ensuring the government fulfills its supportive role.

“The Ministry of Agriculture should cooperate closely with the chairman of TCDC to strengthen cooperatives,” she said.

The President also contributed 5.0bn/- to enable cooperatives to complete its 51 per cent ownership of National Cooperative Bank.

“We’re committed to the success of this bank. If you encounter any challenges, please don’t hesitate to reach out,” President said.