Federal Cooperative Agency (FCA), disclosed the total capital of cooperatives in Ethiopia’s capital, Addis Ababa, has reached 4.3 billion Birr. The capital is the tally of the entire 102 cooperative enterprises’ that have employed 180,000 people.

The news was disclosed during the Cooperative Works Day held in Hawassa. The day was marked with primary aim of increasing the cooperatives’ engagement in the economy. The ceremony was opened by Kaba Urgessa (PhD), state minister of Agriculture & Natural Resources, and Usman Surur, director general of the Federal Cooperative Agency (FCA).

During the event both Kaba and Usman highlighted the experience and achievements of saving and credit cooperatives across Ethiopia.

Source: Fortune