The Co-Operative Movement of Guyana continues to play a significant role in empowering citizens to achieve their fullest potential. This is according to the Labour Minister, Dr. Nanda Gopaul, who noted that cooperatives must strive to be an independent body with little or no government interference.
The Co-Operative movement of Guyana has recorded in excess of fifteen billion dollars in assets. Labour Minister, Dr. Gopaul noted that if this money is properly used it will be of tremendous benefit to its members.
“The rates of the co-operatives are set especially the lending ones and it is set at a very competitive level so when members burrow from their funds they benefit from a very low interest rate” Dr. Gopaul, urged the members to adapt best practices and not to be complacent or distracted by devious behaviors that can hinder the work of the movement.
Speaking on behalf of the president, Agriculture Minister Leslie Ramsammy said co-operatives remain an important part of the developmental trajectory of any country. In this regard, he said he supports the re-invigoration of co-operatives as he sees this as a means of maximizing the potential of the people.
“We must commit ourselves in Guyana together with cooperatives around the world to ensuring that co-ops are given the space and empowered to play a role in providing livelihoods and sustainable living for people” Ramsammy said.
There are some eighteen hundred co-operatives registered in Guyana, with only nine hundred and seventy six operational. There are also one thousand two hundred and seventy five friendly societies registered, while ten cane farming co-operatives are registered in Berbice, three on the East Coast of Demerara and five on the West Bank of Demerara.
Guyana officially launched the International Year of Co-Operatives on Wednesday 25th January, at the Umana Yana, under the theme, “Co-operative enterprises build a better world.”
