ZANZIBAR: ZANZIBAR government has hailed the critical role of cooperative societies in driving economic empowerment, as Melinne Savings and Credit Cooperative Society (SACCOS) unveiled a new building aimed at expanding financial services to its members.
Second Vice-President Hemed Suleiman Abdulla, representing President Dr Hussein Mwinyi, said cooperatives remain a vital pillar in improving livelihoods and reducing income poverty across communities.
He made the remarks over the weekend during the inauguration of the Melinne SACCOS new building in Meli Nne, Magharibi “B” District, Unguja.
Mr Abdulla praised the SACCOS for its contribution to uplifting members economically, noting that its objectives align with the government’s broader vision of promoting inclusive and sustainable financial empowerment.
He revealed that Melinne SACCOS has so far issued 6,540 loans worth over 19bn/-, commending members for maintaining strong repayment discipline that has enabled others to benefit.
The Vice-President said the new building symbolises the cooperative’s growth and success, expressing confidence that it will enhance service delivery, host training sessions, facilitate meetings, and generate additional income.
He said that cooperative societies promote a culture of saving, provide access to capital and play a significant role in job creation, particularly for youth and women. Mr Abdulla directed the Ministry of Youth, Employment and Economic Empowerment, along with relevant institutions including the Cooperative Department, Zanzibar Economic Empowerment Authority, and financial institutions such as PBZ, CRDB and NMB, to continue creating a supportive environment for the growth of cooperatives in line with Zanzibar’s Development Vision 2050.
He also urged members of Melinne SACCOS to uphold unity, transparency, integrity and accountability, while expanding membership and strengthening a savings culture to sustain their progress.
Minister for Youth, Employment and Economic Empowerment Shaaban Ali Othman said empowering young people through employment and entrepreneurship remains a top priority for the ministry.
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He pledged continued support for cooperative groups, including registration and capacity building, to help them achieve their goals.
Earlier, Melinne SACCOS Education Committee Chairperson Rajab Haji Dawa said the cooperative continues to support government development efforts in sectors such as health, education, water, sports and transport.
He noted that the SACCOS has made significant progress, including becoming the first cooperative to invest in the Sukuk fund and achieving Grade A status due to strong governance and management standards.
Dawa added that all buildings owned by the SACCOS were constructed using members’ contributions, reflecting a high level of transparency and trust within the organisation.