Africa-Press – Tanzania. THE Registrar of Cooperative Societies has urged Savings and Credit Cooperative Societies (Saccos) to comply with cooperative laws and regulations to professionally serve their members and support their development.
During the opening of the 56th Annual General Meeting of the Bandarini Saccos in Dar es Salaam, the Assistant Registrar of Cooperative Societies for the region, Ms Angela Nalimi, emphasised the importance of adhering to cooperative laws for successful operations.
She noted that Saccos that comply with the law not only thrive but also contribute to both personal and national development.
Ms Nalimi commended Bandarini Saccos for maintaining professionalism and legal compliance, which has resulted in a clean audit report for four consecutive years.
The Tanzania Revenue Authority’s Director of Human Resources, Mr Musa Mzenga, also highlighted the Saccos’ achievement of an unqualified audit opinion from 2020 to 2023.
He shared that the Saccos, with 1,700 members, has provided loans worth over 10 bn/- to members in the past year.
Mr Mzenga further stressed the significance of cooperation in fostering brotherhood, social welfare and economic growth, noting that Bandarini Saccos has played a crucial role in enhancing employees’ income and boosting efficiency at the port authority.
The Chairman of Bandarini Saccos, Ernest Nyambo, pointed out that the society has embraced technology to provide online financial services, focusing on improving ICT infrastructure to better serve members, including those in remote areas.
For More News And Analysis About Tanzania Follow Africa-Press
