The Tanzania Cooperative Bank has announced a strategic partnership with the African Confederation of Cooperative Savings and Credit Associations and the Tanzania Federation of Savings and Credit Cooperative Unions to support the SACCA 2026 Congress, running from October 11 to 16, 2026 in Dar es Salaam. The conference is expected to attract more than 300 participants from over 35 countries to discuss the development of Savings and Credit Cooperative Societies, or SACCOS, and strengthen cooperative finance across Africa.
The bank's Managing Director, Godfrey Ng'urah, said the partnership reflects the bank's commitment to supporting the cooperative economy. He noted that SACCOS play a significant role in Tanzania's cooperative sector by mobilising capital and strengthening members' economic activities, making a substantial contribution to capital investment compared with other types of cooperatives. The bank, which is 51 per cent owned by cooperative societies, tailors financial services to the needs of cooperative members.
At the conference, the bank plans to showcase financial products designed to help cooperative members access capital, expand businesses and increase investment, with particular focus on supporting small and medium-sized enterprises and agricultural value chains. Ng'urah highlighted that the bank offers loans to cooperative societies at single-digit interest rates, which are lower than the double-digit rates commonly available in the market, to reduce borrowing costs.
Tanzania SACCOS Union Chief Executive Officer Hassani Nyone said the conference provides an important platform for leaders, executives and government representatives to discuss strategies for strengthening savings and credit cooperatives across Africa. He added that developing SACCOS in Tanzania is critical to promoting inclusive economic growth and supporting the Tanzania Development Vision 2050.