Business
The National Cooperative Financing Agency of Nigeria (CFAN) says it is collaborating with other African countries to support cooperatives in the continent in the face of the Coronavirus pandemic.
Mr Emmanuel Atama, the Executive Secretary of CFAN, made the disclosure in a statement issued in Abuja on Wednesday.
Atama said the agency had contacted its global body, African Confederation of Cooperative Savings and Credit Association (ACCSCA) in Kenya and some others to develop appropriate strategies to enable its members to continue with their businesses after the COVID-19.
He said the collaboration would also help them to discuss a common stand that all the financial cooperatives across the continent would follow in the face of the current global health challenge and beyond.
He disclosed that the agency had suspended all cooperative meetings hence, the use of electronic channels and banking platforms for business transactions.
The executive secretary appealed to members of the agency to support the government, development partners and the organised private sector in checking the spread of the virus.
“We are indeed facing a very challenging and trying times not only in Nigeria but across the globe in the face of the coronavirus.
“In view of the grassroots nature of cooperatives driven by self-help, we find it imperative to expand the sensitisation on COVID-19 to the grassroots by keeping our teaming members informed of various strategies put in place by the government.
“We normally get something like loan from government from all these intervention funds.
“What we are saying is that because our people are going to be at home for some time, by the time they are coming out from their homes, they will be completely exhausted.
“We are imploring on government and development partners that have been giving us some support in addition to what we have in our fund, so that our members who are into agriculture, SMEs will continue to do their businesses just like before.
“This afternoon, I will be hooked up to other African countries through our global body in Kenya to discuss a common stand that all the financial cooperatives across the continent will follow in the face of this challenge and beyond,’’ he explained.
Atama appealed to members to obey current restrictions by the government to contain the spread of the virus. (NAN)
– Apr. 1, 2020 @ 13:29 GMT |
Tags: African Cooperative agencies mobilize to sustain business after COVID 19
