Experts in the financial and trade sectors have urged cooperative societies in Nigeria to leverage technology, eradicate poverty, drive financial inclusion and fast-track development through collective wealth creation.
The spoke at a recent virtual event organised by Africa Prudential with the theme, ‘cooperatives build a better world: leveraging technology to drive financial inclusion and collective wealth through cooperatives’. The hybrid event had key stakeholders in the cooperative societies affirming that the role of technology in the growth of cooperatives cannot be ignored.
Afishetu Braimoh, Edo State commissioner for industry, trade and cooperatives, in advocating for increased awareness on the vital role of cooperative infrastructure and building a nation with collective wealth through cooperatives, noted that cooperatives are essential in empowerment and wealth creation.
“I’d like to use this opportunity to increase awareness on the vital role cooperatives play within our local communities, our nation’s wealth, especially, what Edo State government is doing to eradicate poverty, empower the people, and change lives.”
“The theme for this event aptly fits into the Edo State mega agenda. Together with Africa Prudential, I am hoping we can build that digital solution that will directly solve a lot of challenges that the cooperatives face,” Braimoh stated.
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Obong Idiong, managing director, Africa Prudential, speaking on rapid development through cooperatives, noted that the sector can also address the poverty surge in Nigeria and across Africa. According to him, development in any economy is beyond the reach of formalised institutions across both the urban and rural divides.
He asserted that cooperatives contribute significantly to economic empowerment, poverty reduction, and financial inclusion. Accordingly, it is in recognition of these contributions that Africa Prudential hosted the webinar to deepen conversation on the sector.
“As a business solutions provider, we will focus on Africa’s potential in empowering organisations and individuals to achieve a more thorough innovative and beneficial solution”.
Aliyu Giwa, the public relations officer of the Nigeria Police Cooperative Multipurpose Society Limited, in his submissions applauded Africa’s Prudential for fielding solutions to its cooperative problems since the partnership.
“The police cooperative is based in Lagos and we have our members in every state of the federation. Over time, we saw the need for a solution that enables members resident in all states of the federation to transact from where they are, so we partnered with Africa Prudential and they provided a solution that has been very useful to the Nigeria Police cooperative,” Giwa stated.
Charles Ameh, president of the Chevron Cooperative Society and Isaiah Owolabi, CEO, Enhancing Financial Innovation and Access (EFInA), alluded to the key role technology plays in building financial inclusion and collective wealth creation through cooperatives.
