Regulation of Savings and Credit Cooperative Societies in Ethiopia
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Date
2021-09
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Addis Ababa University
Abstract
The Existing Ethiopia’s SACCO regulatory framework does not aim to provide a supportive policy
and legal framework consistent with the nature and function of SACCOs guided by cooperative
values and principles. Since the Cooperatives Society Proclamation 147/1998 was enacted,
SACCOs in Ethiopia have been regulated by the general cooperative offices; nevertheless, these
general cooperative offices lack the technical expertise to oversee SACCOs. Hence, this study
concludes that SACCOs should be supervised by a SACCO supervisory body. Since the National
Bank of Ethiopia establishment proclamation 591/2008 (as amended) was enacted, SACCOs in
Ethiopia have also been governed solely by a general cooperative law. SACCOs, on the other
hand, have special characteristics that necessitate a special SACCO law. In this regard, the
findings of this study support the enactment of a SACCO-specific law. Moreover, the existing
general cooperative law does not effectively address the legal regulatory implementations of
SACCOs. Hence, this research identifies aspects of regulatory implementations that should be
included in the SACCO-specific law.
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Keywords
Credit Cooperative Societies in Ethiopia