Africa-Press – Lesotho. The International Day of Cooperatives (#CoopsDay) is celebrated annually on the first Saturday of July to raise awareness of cooperatives and promote the movement’s ideas of international solidarity,
economic efficiency, equality, and world peace. According to the United Nations (UN), #CoopsDay is the occasion that is intended to spread the word about how a human-centred business model, sustained by the cooperative
values of self-help and solidarity and the ethical values of social responsibility and concern for community can reduce inequality, create shared prosperity and
respond to the immediate impacts of COVID-19. This day was marked by cooperatives worldwide since 1923 and was officially proclaimed by the UN General Assembly on the centenary of
International Cooperative Alliance (ICA) in 1995. The international Day of Cooperatives is celebrated annually on the first Saturday of July and the theme
for this year is ‘Rebuild Better Together’. Ministry of Small Business Development, Cooperatives and Marketing Commissioner of Cooperatives ‘Maphamoli Lekoetje
explained that Cooperatives are people-centred enterprises owned, controlled and run by and for their members to realize their common economic, social and
cultural needs and aspiration and they bring people together in a democratic and equal way. She further said that Lesotho has celebrated this day over the past
20 years. Lekoetje said as cooperatives are regarded as businesses, they too are
the income generating projects as they assist people to have income while working corporately. She noted that through Cooperatives, people are also able to contribute money then loan it to other
people, some people can form a poultry farm or rare pigs and this will help them to generate income. “They can also contribute money and then start any
form of a business like building a variety of houses then selling those houses to people. When people have come together in a business, it makes things easier
unlike when a person wants to start a business alone and they do not have enough capital,” she said. She emphasized that in Lesotho, Cooperatives have
become a huge success and the Ministry has also contributed to their success through capacitating members on various business skills that include business
administration trainings and governance. She said it is imperative that members are trained so that they are able to solve misunderstandings amicably.
She continued to say that they also offer inspections to the cooperatives to ensure that they are working within the recommended regulations. “We also settle disputes in cases
where there seem to be conflicts among the members,” she said. She indicated that the Ministry’s task is also to register cooperatives so that they can
operate legally. Co-operatives have been acknowledged as associations and enterprises through which citizens can effectively improve their lives while
contributing to the economic, social, cultural and political advancement of their community and nation. The Blessings Savings and Credit Cooperative Treasurer Sylvester Amoako said he joined the
cooperative because he was impressed by the fact that he will be able to borrow money at very low interest rates. Amoako noted that Cooperatives are different from any other type of business because they bring people together with the small amount of money they have and create one big business.
