BY BANELE MAGONGO
MBABANE – The Commissioner for Cooperative Development, Russell Nxumalo, has urged cooperatives to comply with existing statutes as well as get on board with digitalisation.
Nxumalo said this at the 6th SACCO Indaba held at Esibayeni Lodge today.
Nxumalo commended the role of cooperatives in promoting financial inclusion and contributing to the country’s economic growth. He stressed the importance of compliance with the Cooperative Societies Act and relevant statutes, as well as sound governance practices, to ensure that SACCOs remained true to their mandate and continued to deliver excellent services to their members. The primary purpose of SACCOs is the development and improvement of the livelihoods of their members.
He affirmed that, in adherence to existing laws, the department remained dedicated to promoting, registering, developing, regulating, monitoring, and auditing all types of cooperatives, underscoring the importance of a supportive and conducive environment for the growth and sustainability of the SACCO sector and the cooperative movement as a whole. He advised cooperative leaders to collaborate closely with the Department to ensure the accomplishment of this goal.
Nxumalo reiterated that digitisation is a critical priority for Government and the Department of Cooperatives, adding that they were tirelessly working on a host of digital initiatives, such as reviving the Cooperative Data Analysis System (CODAS) to produce real-time, credible statistics and introducing online registration of cooperatives to further decentralise services. These initiatives, Nxumalo pointed out, were part of both short-term and long-term goals.
He emphasised the importance of cooperatives complying with the data submission requirements outlined in the Amendment Act. He stressed that all cooperatives should provide necessary data to the department and apex cooperative organisations, as per the prescribed guidelines. He urged cooperatives to embrace the digital revolution and comply with existing statutes.
