About SACOBA
Our foundation, our journey, and the principles that guide us.
Who We Are
The South African Co-operative Banking Association (SACOBA) is a national umbrella body that promotes and advocates for the Co-operative Financial Institutions (CFIs) and Co-operative Banks (Co-op Banks), collectively known as the Co-operative Banking Institutions (CBIs). It is a membership-based organisation open to registered, deregistered and prospective Co-operative Banking Institutions in the Republic.
SACOBA Secondary Limited is a juristic person in terms of the Co-operatives Amendment Act (2013). The Act mandates that all cooperatives comply with prescribed principles of good governance. This is the cornerstone and foundation upon which SACOBA is established.
Our Strategic Priorities
- To promote the interests of all its members to attain their social and economic betterment through self-help and mutual aid.
- To act as a representative organisation that advocates and engages with organs of state, the private sector, and stakeholders.
- To champion the interest of its members from a national to an international level, seeking affiliation and working agreements with similar bodies.
- To educate, capacitate, and guide members on a variety of topical issues, including legislation, regulations, and policies.
- To facilitate establishment, training, and capacity building of CBI committees, management, and their members.
- To monitor, research, collect data, and disseminate information and statistics relevant to the needs of its members.
- To ensure growth and membership sustainability through mediation services and by simplifying the path to registration, licensing, and compliance.
- To unite all CBIs in the Republic, ensuring collaboration and a spirit of camaraderie.
Governance & Our Guiding Principles
SACOBA operates a structured and transparent governance structure with active participation by owner-member Co-operative Banking Institutions. Our governance is anchored on the seven co-operative principles, which are the guidelines we use to put our values into practice.
- Voluntary and Open Membership
- Democratic Member Control
- Members' Economic Participation
- Autonomy and Independence
- Education, Training, and Information
- Cooperation among Cooperatives
- Concern for Community
Board of Directors
A strong and effective board is crucial to our success. The board is the legal and ethical governing body, responsible for setting strategic direction, ensuring financial health, and representing the interests of our members and stakeholders. Key responsibilities include Strategic Planning, Financial Oversight, Governance and Compliance, and Member Representation.
Meet Our Leadership
Our association is guided by a functional Board of Directors with decades of collective expertise in the co-operative banking sector.
Poifo Lucas Mofokeng
Chairperson
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Frequently Asked Questions
A CBI is a member-owned financial institution. This term collectively refers to Co-operative Financial Institutions (CFIs) and Co-operative Banks (Co-op Banks). They are democratically controlled by their members and exist to serve their members' financial needs, not to generate profit for external shareholders.
Membership is open to all registered, deregistered, and prospective Co-operative Banking Institutions within the Republic of South Africa. We represent the entire lifecycle of a CBI, from formation to full operation.
We address numerous sector-wide challenges, including outdated legislation, lack of technical infrastructure, insufficient human capacity, weak corporate governance, and poor marketing. Our goal is to provide collective solutions to these systemic problems.
SACOBA acts as the unified voice for the sector. We advocate on behalf of our members by engaging with state organs, regulators (like the Prudential Authority and CIPC), the private sector, and other stakeholders to influence policy and create a more favorable operating environment.