Tanzania's Savings and Credit Cooperative Societies (SACCOS) reached 981 licensed institutions serving approximately 1.9 million members and beneficiaries by the end of 2025, according to remarks made by the Minister for Agriculture at the opening of the SACCA Congress in Dar es Salaam on October 15, 2026. The sector's total assets stood at 1.69 trillion shillings, representing growth of nearly 16 per cent over the previous year.
Members themselves funded more than 92 per cent of SACCOS operations, demonstrating the cooperative model's reliance on participant contributions. The minister noted that these financial institutions play a critical role in mobilising savings and delivering financial services to citizens across the country.
The government views SACCOS as vehicles for financing productive sectors including agriculture, livestock, fisheries, manufacturing and trade. Officials recognised that access to affordable financial services enables farmers to invest in modern agricultural technologies and improve market access. Through the Tanzania Cooperative Development Corporation, the government continues strengthening regulation, promoting governance standards and supporting digital transformation within the sector.
The minister expressed commitment to expanding participation among women and young people in financial cooperatives. He also highlighted the importance of developing innovative financial products tailored to productive sectors while maintaining sound lending practices and effective risk management.