Mbabane: On Wednesday the Minister of Commerce Industry and Trade Manqoba Khumalo launched a new cooperative management system, the Mumbo Core Cooperative Management System (CCMS), which aims to assist local cooperatives to improve efficiency and digital access.
The CCMS is an electronic system that will assist local Savings and Credit Cooperative Societies (SACCOs) to efficiently access services using digital means, including banking services and loan transactions, among other services. It is supported by the German Cooperative and Raiffeisen Confederation.
For many years, cooperatives around the world have continued to use paper-based data management systems for a number of reasons which include lack of capital, social and cultural opposition to new technologies amongst others.
Khumalo said the Government of Eswatini is working hard on ensuring that services are easily accessible to the public through digital means.
Minister Khumalo said these Digital Services shall also assist Government through the Cooperatives department to bring helpful information about the SACCO sector. “This is more so as the CCMS allows integration with other systems like the Cooperative Data Analysis System (CODAS).”
Khumalo was speaking when launching the Mumbo Core Cooperative Management System (CCMS) and its Digital Services on Wednesday morning.
Minister Khumalo said the ability to do things and receive financial help wherever you are through Digital Services is a contribution to the fulfillment of His Majesty’s First World dream. He said information needs to be easily accessible to facilitate decision-making.
He said the Digital Services have, therefore, come at the right time. They shall help limit the movement of SACCO members from traveling into physical offices trying to get financial help.
Minister Khumalo encouraged SACCOs to ensure that they continue to comply with all the laws of the country in their business dealings. The services launched today are designed to add to the efforts done by the SACCO movement in making the country a better place to operate in.
DGRV Regional Director Veit Gesenhues, making his remarks during the launch highlighted that today marks a new era in the cooperatives sector of Eswatini because the CCMS system will take the cooperatives sector into the digital space. “I am proud to say Eswatini is the hub and regional competence centre for cooperatives.”
Gesenhues added that DGRV has also supported the SACCO movement by offering to upgrade the Cooperative Data Analysis System, donating computers to the cooperative department’s regional offices and the Eswatini Cooperatives College as well as institutionalizing the National Cooperative Federation.
DGRV is the German Cooperative and Raiffeisen Confederation is the national apex organization and top-level auditing confederation of the cooperative sector in Germany. With more than 40 years, DGRV is engaged in international development cooperation. It has a footprint in more than 30 partner countries, DGRV provides consultancy and helps to develop cooperative systems and structures aiming at sustainable development of the cooperative sector.