Tanzania eyes economic gains from African SACCOS congress

DAR ES SALAAM: TANZANIA is positioning itself as a destination for international conferences, tourism and business networking through the 26th African SACCOs Congress, which has brought together more than 1,200 participants from about 28 countries.

The six-day conference, running from October 11 to 16, 2026, provides a platform for stakeholders in the Savings and Credit Cooperative Organisations (SACCOS) sector to discuss development strategies while showcasing Tanzania’s potential to host major international gatherings.

Speaking to journalists in Dar es Salaam today, October 14, 2026, Hassani Mnyone, Chief Executive Officer of the Savings and Credit Cooperative Union League of Tanzania (SCCULT), which is hosting the congress, said the event was expected to generate positive economic benefits beyond the cooperative financial sector.

He said the presence of delegates from across Africa and beyond was helping promote Tanzania internationally while creating opportunities for local businesses, particularly in hospitality, transport, accommodation and food services.

“Hosting this conference is important not only for SACCOS but also for the country as a whole. The presence of more than 1,200 participants from about 28 countries promotes Tanzania as a destination for tourism, business networking and international gatherings,” he said.

Mr Mnyone, who also serves as a member of the board of directors of the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA), said the congress was providing an opportunity to assess the progress of SACCOS across the continent and develop strategies for future growth.

He said discussions during the congress would help stakeholders evaluate the sector’s current position, identify existing challenges and determine practical measures to strengthen its performance and sustainability.

Mr Mnyone also highlighted the importance of recognising the collective efforts of stakeholders who have contributed to the development of the cooperative financial sector.

He said that over the past years, SCCULT had focused on promoting sound governance, supporting compliance with legal requirements and developing practical strategies to improve the competitiveness of SACCOS alongside other financial institutions.

He said these efforts had contributed to improvements in the sector, with SACCOS recording total assets of approximately 1.6tri/- in 2025 and a membership of about two million people.

He added that the sector continued to play an important role in expanding access to financial services, particularly through lending to members and supporting economic activities at the community level.

According to Mr Mnyone, the benefits of SACCOS extend beyond their direct membership, as members’ economic activities also support families and wider communities.

ALSO READ: SACCA CONGRESS 2026: African SACCOS urged to embrace technology, attract youth

He emphasised that the Visionary Award should not be viewed as an individual achievement but as recognition of the contribution made by SACCOS, SCCULT, the government through the Ministry of Agriculture and the Cooperative Development Commission, as well as development partners.

The congress is expected to strengthen cooperation among African SACCOS stakeholders, encourage the exchange of experience and promote strategies for building resilient cooperative financial institutions across the continent.

The post Tanzania eyes economic gains from African SACCOS congress appeared first on Daily News.