Celebrating 102 Years of Cooperative Excellence in Ghana


Dr. Solomon Owusu-Nyakon, Deputy Chief Executive Officer of the Ghana Cooperative Credit Union, shared his insights on the significant role cooperatives have played in Ghana's development. As the nation celebrated the 102nd International Credit Union Day, Dr. Owusu-Nyakon highlighted the impressive contributions of credit unions.


Dr. Solomon Owusu-Nyakon

With over 495 credit unions nationwide, employing more than 5,200 people, and boasting total assets of 4 billion Ghana cedis, the impact of credit unions cannot be overstated. Beyond employment, credit unions have fostered an enabling environment for businesses to thrive, promoting economic growth and development.


Dr. Owusu-Nyakon emphasized the importance of good leadership, citing the over 15,000 board of directors who have helped shape the credit union sector. He noted that cooperatives have been a cornerstone of Ghana's development for over 100 years, with a remarkable 10 million members.


Despite these achievements, Dr. Owusu-Nyakon acknowledged the challenges facing the cooperative sector, including outdated regulations and inadequate publicity. He urged the government to focus on building a strong, supportive system for cooperatives, recognizing their potential to drive economic growth and development.



As Ghana celebrates 102 years of cooperative excellence, Dr. Owusu-Nyakon's words serve as a reminder of the sector's vast potential and the need for continued support and development.


Dr Bernard B.B. Bingab

Dr Bernard B.B. Bingab, the Board Chair, of Ghana Co-Operative Council was thrilled to share his story at the event the 102nd anniversary of International Cooperative. According to Bingham, he is passionate about promoting the cooperative model as a vital tool for economic growth and development.



He again stated "As I look back on our journey, I'm proud of the significant contributions cooperatives have made in Ghana. With over 495 credit unions nationwide, employing more than 5,200 people, and boasting total assets of 4 billion Ghana cedis, our impact is undeniable".


However, despite these achievements, the organisation is faces significant challenges, particularly with our outdated laws. Our current legislation, enacted in 1968, is woefully inadequate for the modern cooperative landscape. "We urgently need a new law that takes into account technological advancements, mobility, and the evolving needs of our members" he said



As we celebrate this milestone, we're also excited about the United Nations' declaration of 2025 as the Year of Cooperatives. This global recognition underscores the critical role cooperatives play in promoting sustainable development, social justice, and economic empowerment .he highlighted 


More he indicated that As a nation, Ghana is struggling to get the economy back on track, and Ghana Cooperative Credit Union, believe that the cooperative model is the way forward. By embracing the principles of cooperation, mutual aid, and social responsibility, we can create a more equitable and prosperous society.he added 



I invite everyone to join us in celebrating the cooperative spirit. Let's work together to promote a more inclusive and sustainable economy, where people helping people is the guiding principle. He advised


Reported by Azaglo Michael 

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