The vision of Lesotho Government on cooperatives is maximization of income generation and job creation through autonomous and viable cooperative societies. Cooperatives are able to distribute wealth down to the grassroots level. Existing cooperatives are as-yet undeveloped sector but are percieved as major role players in alleviation of poverty and creating sustainable house-holds, and can therefore play important role in reducing rural-urban migration. There is a marked level of women involvement at all levels in the running of cooperatives.
Infact more women are seen in leadership and decision making in almost 90% of all cooperatives in Lesotho.
However I highly believe that Basotho can achieve vision20/20 through cooperative movement.
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tigger59
- 2008-04-22 @ 18:54:24
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- http://www.tsoanelo.blog.co.uk
- 2008-04-25 @ 11:13:21
The history and nature of cooperatives in Lesotho is quite a provocative one. Yes, credit unions have always led the revoluton of cooperatives since 1960's and the fundamental goal has always been to enrich members of each cooperative. If and when a cooperative of any type does not make profit, then its members were vulnerable to the same poverty and dependency on donors they wish to run away from. Cooperatives are a way of life for Basotho from grass roots level.
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While I would whole heartedly agree with your comments there is yet another and perhaps better financial institution, based on the co-operative system. Credit Unions are a not for profit bank for the people. In this changing environment credit Unions could play a vital roll in preventing personal debt and a source of fair return on saving not governed by any other financial markets or bank interest rate hikes.