DODOMA, May 5, 2025 – President of Tanzania, Dr Samia Suluhu Hassan, has praised the ongoing progress of the country’s cooperative sector, noting its role in enhancing productivity and improving the livelihoods of many citizens.
Speaking at the official launch of the Co–operative Bank of Tanzania in Dodoma recently Samia underpinned by cooperative societies’ growing commitment and investment in their own development.
“The cooperative sector is on the right path,” she said. “These societies have demonstrated a strong, proactive attitude by contributing capital to establish their own Cooperative Bank, of which they own 51 percent of the shares.”
The newly launched bank will commence operations with four branches located in Dodoma, Kilimanjaro, Mtwara, and Tabora, and will work with 58 agents drawn from leading cooperative societies across the country.
President Samia urged the new bank to serve as a catalyst for expanding access to financial services, particularly for farmers in rural areas, through the provision of affordable loans.
She also called on the Cooperative Development Commission [TCDC] to strengthen its oversight role to ensure cooperatives are commercially viable, adopt modern IT systems, and maintain timely and transparent financial reporting.
The launch ceremony was attended by senior government officials, cooperative leaders, development partners, representatives of financial institutions, Members of Parliament, political party delegates, and local residents of Dodoma.
Meanwhile, Dr Stephen Nindi, Deputy Permanent Secretary in the Ministry of Agriculture [responsible for cooperatives and Irrigation], echoed the President’s remarks. Speaking during a separate meeting with Commission staff in Dodoma recently, Dr Nindi urged the TCDC to reinforce cooperative management to boost productivity.
He also stressed the need for effective stewardship of cooperative assets — including land, farms, factories, and warehouses, to ensure they contribute to the overall economic performance of cooperative societies.
The Registrar and Chief Executive Officer of the TCDC, Dr Benson Ndiege, affirmed the Commission’s commitment to strengthening cooperatives in line with its strategic priorities, including supporting the successful growth of the newly launched Co–operative Bank of Tanzania, which is capitalised at Tsh 58 billion.
https://thecooperator.news/president-samia-advocates-for-strong-cooperatives-in-tz/
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