- A new leader has emerged at the helm of Africa’s cooperative finance movement following a key continental meeting in Tanzania.
- The unopposed election signals a leadership transition as the organisation pursues stronger governance and sustainable growth.
- Attention now turns to the priorities that will shape cooperation among African Saccos and credit unions under the incoming leadership.
The African cooperative finance sector is set for a new chapter following the election of Dr Samuel Otu-Nyarko as the incoming Board Chairperson of the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA).
Otu-Nyarko, who serves as Board Chairperson of the Ghana Cooperative Credit Unions Association, was elected unopposed during ACCOSCA’s Annual General Meeting. The meeting was held alongside the 2026 SACCA Congress in Dar es Salaam, Tanzania.
His election, announced on October 19, 2026, marks a leadership transition at the continental organisation. It continues efforts to strengthen Savings and Credit Cooperative Organisations (Saccos), credit unions and cooperative financial institutions across Africa.
He succeeds Jeanette Chanda Makgolo of Botswana, whose tenure was recognised by the confederation for her leadership and contribution to strengthening its institutional standing and influence across the continent.
In a statement, ACCOSCA commended Makgolo for her stewardship. It described the transition as a reflection of the organisation’s commitment to democratic governance, institutional stability and continuity of vision.
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The leadership change comes at a time when cooperative financial institutions remain important channels for expanding access to financial services, encouraging savings and providing credit. They serve individuals and businesses that may face barriers in conventional banking systems.
ACCOSCA, established in 1968, brings together national associations of savings and credit cooperatives. It works to strengthen their capacity through technical programmes, leadership development, advocacy and strategic partnerships.
According to the organisation, its work is geared towards promoting financial inclusion through stronger and more sustainable cooperative financial systems. Its priorities include improving governance and regulatory knowledge, expanding digital financial services and increasing the participation of young people in the cooperative movement.
Otu-Nyarko’s election therefore places him at the helm of an organisation seeking to strengthen cooperation among African credit unions. It also places him at the centre of efforts to support the growth and sustainability of member institutions.
As the new leadership prepares to take shape, attention will turn to how the confederation sustains its governance agenda, deepens collaboration among member associations and advances financial inclusion across the continent.
The transition also highlights the importance of orderly succession in maintaining institutional stability. It ensures that leadership changes do not disrupt long-term development priorities.
ACCOSCA said the handover reflects its guiding principles of leadership through service, succession anchored in stability and progress sustained through a shared vision.
By Lizzy Aluga
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