The Cooperative Federation of Anambra State Limited, known as COFAS, has called on the Anambra State Government to establish a Cooperative Development Fund and fully integrate cooperatives into the state’s economic development plans.
Speaking at the 2026 International Day of Cooperatives in Awka, COFAS President, Dr. Ogochukwu Soludo, said poor access to finance, weak governance, and low digital literacy are hindering the growth of cooperative societies across the state.
He noted that challenges such as limited market access, regulatory bottlenecks, youth disengagement, and barriers affecting persons with disabilities are preventing cooperatives from making greater contributions to Anambra’s economy.
Dr. Soludo explained that the proposed Cooperative Development Fund would provide affordable financing for micro and small cooperative enterprises and help unlock their economic potential.
He also announced a three-year development roadmap focusing on governance, access to finance, market expansion, youth and women inclusion, digital transformation, and stronger partnerships.
According to him, COFAS is already engaging microfinance banks, community finance institutions and development partners to create cooperative-friendly loan products and introduce digital tools to improve operations.
He urged government, financial institutions and the private sector to support cooperatives, stressing that they remain vital drivers of job creation, community development and inclusive economic growth in Anambra State.
