Savings and Credit Cooperative Societies (SACCOS) across Africa should adopt technology and work to bring in more young people, officials said at a major conference in Dar es Salaam on October 13. The African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) organised the meeting to discuss financial sector achievements, technology's role in service delivery and challenges around youth participation in cooperatives.
Collin Nyaunga, Deputy Registrar of Cooperatives at the Tanzania Cooperative Development Commission under the Ministry of Agriculture, said the cooperative sector needs to strengthen itself to meet changing financial needs. Digital systems are essential for improving how financial services are delivered, enabling transactions and making cooperative operations more efficient, he noted. Technology can also help more people access financial services and improve communication between societies and their members.
Youth involvement in SACCOS remains difficult to achieve, stakeholders recognised. Young people joining cooperatives can develop savings habits, improve their financial management and gain access to services supporting their economic activities. However, cooperative societies need new approaches that appeal to younger generations' interests and expectations.
The 26th SACCA Congress 2026, running from October 11 to 16 at the Julius Nyerere International Convention Centre in Dar es Salaam, brings together SACCOS leaders, policymakers, regulators and financial experts from across Africa and beyond to discuss strengthening cooperatives and expanding financial inclusion.