Co-operative Bank has kicked off its Annual National Co-operatives CEO workshop to deliberate on key issues concerning the industry.
The workshop themed Co-operatives Tomorrow: Technology and Innovation for Sustainable and Inclusive Development was 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.
Speaking at the workshop, Mr Ismail said, “With 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.”
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.
It will cover 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. It will include a panel discussion focusing on three key areas, building capacity in terms of strategy, governance and security.
It will also cover demystifying digital transformation in Co-operatives and management and expansion of the Agricultural value chain.
Cooperative Bank is holding the workshop through its subsidiary, Co-op Consultancy and Insurance Agency whose main role is to enhance the institutional capacities of co-operative societies, who are the core stakeholders of the bank.