Tanzania is stepping up efforts to improve governance in its co-operative sector, with the country’s vice president calling for stronger supervision of societies and more frequent audits.
Speaking during Co-operative Day celebrations at the Nane Nane International Agricultural Exhibition in Dodoma, Tanzanian vice president Emmanuel Nchimbi (pictured) said the Tanzania Cooperative Development Commission (TCDC) should strengthen its oversight of co-operatives and ensure they are operating transparently and in the interests of their members.
IPP Media reports that he also called on the Co-operative Audit and Supervision Corporation (Coasco) to conduct audits more regularly, with the aim of protecting members’ funds and reducing the risk of financial mismanagement.
“A co-operative movement built on integrity is essential for strengthening members’ confidence and attracting more investment,” said Nchimbi.
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“The growth of co-operatives depends on accountability, honesty and integrity among members, leaders and management.”
He went on to urge public bodies, businesses and development partners to support the recently launched ‘Protect Co-operatives, Choose Integrity’ campaign, which aims to tackle corruption and other criminal activity within co-operative societies.
Nchimbi’s comments come at a time when the Tanzanian government is seeking to reinforce co-operatives’ role in the country’s economic development. Highlighting the co-operative sector’s potential to improve access to agricultural inputs, extension services and government support, he said the sector should be aligned with the country’s Development Vision 2050, which identifies commercially-focused co-operatives as part of the drive towards industrialisation and inclusive growth.
He also stressed the need for greater public awareness to encourage more Tanzanians to join co-operative societies, in line with the country’s development targets.
