Co-operative Bank has kicked off its annual national co-operatives workshop where a chief executive from across the country deliberate on key issues concerning the industry.
Through its subsidiary, Co-op Consultancy and Insurance Agency, the CEOs will be sensitized on how to revolutionize their societies and operate within the competitive business environment.
The workshop themed Co-operatives Tomorrow: Technology and Innovation for Sustainable and Inclusive Development were presided over by the PS State Department for Co-operative Development, Mr. Ali Noor Ismail, who in his keynote speech highlighted the importance of leveraging technology in Co-operatives to spur innovation.
Mr. Ismail said, “With the adoption of technology in Co-operatives, we have seen new types of products introduced that meet more specific needs of members, improve liquidity in Saccos and even yield better margins for Co-operatives. In short, Co-operatives today operate smarter than they did in the past.”
PS State Department of Co-operatives, Ali Noor said access and use of ICT continue to be on the increase in every aspect of development in the Co-operative sector.
Speaking at the workshop, Coop Bank director co-operatives division Vincent Marangu said the organizations are faced with numerous institutional challenges which they must address in order to attain their goals.
“As co-operatives are the key stakeholders of the bank, we facilitate such workshops every year to create an environment where they can deliberate, learn and build each other,” he said.
This year’s workshop covers a wide range of topics such as building technological capabilities in co-operatives which will help the participants think strategically about technology beyond adoption and managing the associated risks.
Coop Bank Director Co-operatives Division, Mr. Vincent Marangu said, “We understand that organizations are faced with numerous institutional challenges which they must address in order to attain their goals in the dynamic business environment in the country.
Mr. Marangu said that the bank facilitates such workshops every year to create an environment where cooperatives can deliberate, share learnings and build each other.
The three-day workshop will focus on engaging the CEOs on how to revolutionize their societies and operate within the competitive business environment with the constantly changing market dynamics.