In September 2023, finance experts from Benin, Cameroon, and Uganda united in Frankfurt Germany to explore the philosophy of the cooperative principles in Germany, embodied by the trailblazer Friedrich Wilhelm Raiffeisen and Hermann Schulze Delitsch.
This visit focused on the mechanisms and tools to assure a resilient, transparent, and innovative cooperative banking sector. The delegation could meet with high-level executives from core players (for example BaFin or DZ Bank), fostering a clear vision for the future of the cooperative banking sector in Europe.
DGRV’s role in this pivotal journey reaffirms their commitment to fostering economic and social progress in African communities through cooperative banking services. Decision-makers from our selected partner countries in Africa could study the actual functioning and impact and the challenges for financial cooperatives.
In Germany, the spirit of cooperative action is deeply embedded in the culture, emphasizing interconnectedness and the greater good.
The achievement of the tour was to translate the German cooperative banking experiences into concrete and tangible recommendations and actions which can support the social and economic development, especially in rural and semiurban communities across their countries. Mr. Dehning from BVR stressed in his opening lecture the importance of “Sicherungseinrichtung” and specialized governing body. He outlined the role and rolls of BVR. During a visit to the Deutsche Bundesbank, the role and interaction of Bundesbank, BaFin, and the cooperative Auditing association were outlined and questioned from different perspectives. It was of great importance to understand the relevance and advantages of having central institutes for a common cooperative sector as it is the DZ Bank and the R+V Insurance.
A Project Story of the Month / DGRV Team Africa
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