Cooperatives urged to do more in job creation
Isaac Pinielo | Tuesday April 26, 2016 14:41
Assistant Minister for Presidential Affairs and Public Administration, Dikgang Makgalemele made the call at the society’s annual general meeting held in Gaborone on Saturday. He noted that cooperatives are widely recognised as crucial to people empowerment, employment generation and social protection, adding that they have an increasingly significant role to play in today’s economies.
“Cooperatives have further proven to be engines and backbones for economic growth,” he said. The assistant minister further stated that cooperatives enable their owners to generate income, jobs, and accumulate assets, provide affordable quality goods and services, and develop human and social capital, as well as economic independence.
For a country faced with a problem of unemployment, Makgalemele said the government counts on cooperatives to provide a solution by creating self-sustaining lucrative businesses. “We are convinced that our successes will in one way or another, come from cooperatives,” he said.
He also said the cooperative model of business could therefore be a valuable tool in building sustainable grassroot businesses in Botswana and the entire continent at large.
The assistant minister pointed out that cooperatives foster the spirit of self-reliance, and that they are not just about the bottom line, but are more importantly about the economic and social wellbeing of people.
“It is gratifying that Motswedi SACCOS does not only speak the talk but walks it. It is evidently one of the oldest, successful and leading cooperative enterprises in Botswana,” said Makgalemele.
As Motswedi SACCOS celebrated its 30th anniversary on Saturday, the assistant minister stated that these are years of progressive existence, adding that the organisation has achieved a lot since its founding days with only 23 members to 2,900 members to date.
The society prides itself with an asset base of P117 million, a loan portfolio of P79 million, a savings deposit of P65 million, and share capital of P4.3 million.
Makgalemele said the success is attributable to the members’ loyalty and good leadership that has served this society over the years as well as a committed staff.
Motswedi SACCOS has a staff complement of 20 employees, 90 percent of whom are young people, according to the assistant minister.
He said the cooperative movement is now a common phenomenon in Botswana society and that the concept has now grown and spread to be a strong pillar in the economy.
“As the government we desire to see self-sustainable citizen-owned enterprises positioning themselves as drivers towards the national development agenda,” said Makgalemele.
He indicated that the government is on a crusade to encourage establishments of cooperatives, especially at community level, adding that they are an appropriate vehicle towards financial independence and self-reliance.
The minister further stated that cooperatives have built big economies and continue to be noble opportunities for sustainable economic growth.