Ethiopia Committed to Advancing Collective Dream of African Cooperatives Renaissance: Commissioner

Addis Ababa, June, 24, 2025 (ENA) -- Ethiopia is committed to advancing the collective dream of an African cooperative renaissance, Ethiopian Cooperatives Commissioner Shiferaw Shigute said.

The 2025 Africa SACCO (Savings and Credit Cooperatives) Round Table commenced this evening in the presence of senior government officials, and representatives from various African countries.

In his opening remarks, Ethiopian Cooperatives Commissioner Shiferaw said Ethiopia has launched a far reaching National Savings and Credit Cooperatives reform agenda in line with the Home-grown Economic Reform program and the ten-year development plan of the country.

According to him, modernizing legal and policy frameworks to enhance autonomy, accountability and resilience; strengthen governance and oversight mechanisms; expand digital financial services; diversify savings and loan products tailored to real economic needs of members; and mobilizing capital for member investment and rural economic transformation are among the achievements made.

 

Moreover, the commissioner pointed out that Ethiopia remains open to learning, sharing and co-creating solutions that will advance not only the national agenda but also the collective dream of an African cooperative renaissance. 

The 2025 Africa SACCO Regulatory Round Table (RRT) is taking place under the theme "Strengthening SACCOS Regulation for Financial Stability."

Africa SACCO regulators, industry experts, development partners, and cooperative leaders from across Africa and beyond will deliberate on enhancing regulatory frameworks for savings and credit cooperatives (SACCOS) during the three-day high-level gathering.

The regulatory round table is aimed at addressing regulatory challenges, building a stable SACCO environment, exploring policy and legal frameworks, and promoting a comprehensive risk management approach.

It targets regulators, cooperative commissioners, central banks, national associations, and regional government representatives to harmonize and elevate SACCO regulation across the continent.