The International Co-operative Alliance's Regional Director for Africa has called for an African Co-operative Bank to be established.
Dr Chiyoge Sifa encouraged Nigerian co-operators to lead the way to co-operative development across the region by helping to establish a Bank. She said the institution would help to create an enabling financial base for member states across Africa: “The African Co-operative Bank is still a dream that will come true, as soon as we have about five or so national co-operative banks on the continent.”
While visiting the country, Dr Sifa engaged with Nigerian co-operators and political personalities. She met Minister of Agriculture and Rural Development, Dr Akinwumi Adesina, to discuss future strategies to grow the movement across the country.
Joined by Francis Munyao, Strategy Manager of ICA Africa, Dr Sifa discussed the Africa Development Strategy adopted by the ICA Africa Regional Board and encouraged the Nigerian government to foster co-operative development.
The strategy for the continent, which would require USD 44 million, can be wholly financed by co-operators if they contribute one dollar each, according to Dr Sifa. She has also encouraged the Nigerian government to support the ICA Africa Endowment Trust Fund.
Minister Akinwumi Adesina said he welcomed ICA’s decision to enable government agencies to become Associate Members of the orgnisation, adding that his ministry would become an associate member of the ICA. He also reassured the ICA of the government’s commitment to co-operative development, saying that it would contribute USD 100,000 to the Fund.
“I can’t think of a better way of how nations could develop, apart from co-operatives,” he said.
As part of her visit to Nigeria, Dr Sifa delivered a keynote presentation on the Blueprint for a Co-operative Decade. She also took part in a co-operative leaders meeting in Abuja where Jibrin Bala, President of the Co-operative Federation of Nigeria, was elected to represent the West-African sub-region in the ICA Africa Regional Board.
“My challenge to the Nigerian co-operative movement is to raise to the occasion and claim their share at the leadership table of co-operative matters at both continental and global levels,” said Dr Sifa.
Photo: Chiyoge Sifa with Nigerian co-operators in Abuja.
