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

Addis Ababa: 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. According to Ethiopian News Agency, Ethiopian Cooperatives Commissioner Shiferaw stated that Ethiopia has initiated a comprehensive National Savings and Credit Cooperatives reform agenda. This initiative aligns with the Home-grown Economic Reform program and the country's ten-year development plan. The commissioner highlighted achievements such as modernizing legal and policy frameworks to enhance autonomy, accountability, and resilience; strengthening governance and oversight mechanisms; expanding digital financial services; diversifying savings and loan products to meet the real economic needs of members; and mobilizing capital for member investment and ru ral economic transformation. Moreover, the commissioner emphasized Ethiopia's openness to learning, sharing, and co-creating solutions to advance the national agenda and the broader vision of an African cooperative renaissance. The 2025 Africa SACCO Regulatory Round Table (RRT) is being held under the theme "Strengthening SACCOS Regulation for Financial Stability." The event gathers Africa SACCO regulators, industry experts, development partners, and cooperative leaders from across Africa and beyond. They will deliberate on enhancing regulatory frameworks for savings and credit cooperatives (SACCOS) during the three-day high-level gathering. The regulatory round table aims to address regulatory challenges, build a stable SACCO environment, explore policy and legal frameworks, and promote 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.