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Chief executives and managers of African credit and saving co-operatives met in Zambia in March to discuss on various issues affecting credit unions at the 5th Saving and Credit Union (SACCO) Leaders Forum. The event, jointly organisaed by the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) and the National Association of Savings and Credit Unions of Zambia (NASCU), gathered 156 participants from across 17 countries.
Delegates from credit unions were joined by development practitioners and academics, who looked at how to promote financial inclusion using the co-operative enterprise model. They touched upon the need to promote financial regulatory reforms in SACCOs, while also examining examples of effective co-operative management.
Speaking at the forum, George Ombado, the executive director of Cooperative Savings and Credit Associations (ACCOSCA), encouraged managers to run their credit unions in an efficient way to help build confidence in the sector and promote the saving culture. He also advised managers to engage with young people, to secure the movement’s future.
Also present at the event, Robert Sichinga, Minister of Agriculture and Livestock of Zambia, said the co-operative model helped to enhance financial inclusion by extending access to financial services.
Delegates also looked at ways in which SACCOs could embrace technology to increase financial inclusion. Many women and young people across Africa continue to be unbanked and SACCOs could play an important role in addressing this situation, credit union leaders agreed. They assessed ways in which SACCOs could work together to brand and promote the credit unions advantage in Africa.
Another issue that came out in the discussion was the relationship between credit unions and the role of national bodies in exchanging experience and building new partnerships. Delegates agreed that credit unions needed to make themselves more attractive in order to cope with competition from commercial banks.
Prior to the forum, ACCOSCA held three concurrent Workshops on Alternative Finance for Cooperatives, Liquidity Management, and Credit Risk Management. The workshops explored some of the challenges faced by SACCOs, which had been mentioned at last year’s Annual SACO meeting.
Photo: delegates taking part in a workshop at the 5th SACCO Leaders Forum in Zambia.
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Call for Papers: The Special Issue 2019 ICA Review of International Cooperation
Cooperative enterprises involve diverse groups of individuals gathering and working toward a common goal. Research has shown that this diversity of voices, backgrounds, and perspectives comes with challenges, but can also be a significant strength for cooperatives. This cooperative advantage can be maximized in cases where governance structures enable inclusive and meaningful engagement from members.
In this Special Issue of the International Co-operative Alliance Review of International Cooperation, the Canadian Association for Studies in Co-operation (CASC) will reflect upon the interplay of diversity, inclusion, and social justice with cooperative enterprises in Canada and beyond. Guest editors of the Special Issue are Fiona Duguid, Sara Elder, Isobel Findlay, Judith Harris, and Derya Tarhan.
Papers are welcomed from scholars, students, researchers, and practitioners submitted before December 1st, 2018. Papers should not exceed 8,000 words. Paper template and referencing should follow the APA style guide. All papers are subject to peer review. Please submit your paper online using this link.
For inquiries, please contact casc.acec@usask.ca
The previous Special Issue 2017 of the Review is available here!
Please send your reactions and questions on the Special Issue 2017 to claudia.sanchezbajo@ymail.com
Read our reports from the 2017 Global Co-operative Research conference in Stirling:
Co-operative practitioners in Scotland – what do they want from researchers?
Co-operative research: key trends and predictions
The importance of research in co-operative policy
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