Riby, a financial technology company, recently held its inaugural cooperative conference, tagged Coop 1.0.
The event which served as a meeting point for all sectors involved in the cooperative ecosystem to discuss different ways cooperative model can be improved and provide basic life needs like food and shelter.
Over 100 cooperative administrators were present at the event to listen and learn from experts and professionals drawn from different sectors of the economy including Senior Manager Enterprise, Bank of Industry, Mrs. Eniola Akinsete; the Executive Secretary of the Cooperative Financing Agency of Nigeria, Mr. Emmanuel Atama; Sterling Bank’s Head of Microbanking, Opeyemi Oke and many others
In her presentation, Mrs. Eniola Akinsete said that the Bank of Industry was ready to empower groups through its social intervention programs, stressing that some of the things the bank had learnt is the power of numbers in groups. She however, praised innovation like Riby’s CoBanking platform for empowering cooperatives.
With the audience taken on a journey through the importance of cooperatives, cooperative bosses like Henry Hector-Amiwero of the Total E&P Cooperative and Yinka Ogunnubi of the CFAO Cooperative shared their valuable experience of how they had been able to generate wealth and how other cooperatives can emulate them.
With financial education a key part of the process of empowering cooperatives, members of the media including BusinessDay Senior Associate Lehlé Balde and Business Insider editor David Adeleke were also present as moderators for the event.
The Conference also shed a light on financial inclusion, with the Chief Executive Officer of Enhancing Financial Innovation & Access, Esaie Diei, the head of Business Development at CRC Credit Bureau, Peggy Chukwuma-Nwosu and the Chief Executive Officer of Social Lender, Faith Adesemowo all speaking at the event.