–one each at Buxton, Ithaca, BV-Triumph and Mocha-Arcadia

OVER US$12M is to be plugged into the establishment of four model cooperative societies, thereby creating approximately 160 jobs.
These four cooperatives, Minister within the Ministry of Social Protection (MoSP), Mr Keith Scott said Friday, will be launched in the villages of Buxton and Beterverwagting-Triumph, on the East Coast of Demerara; Ithaca, on the West Bank of Berbice; and at Mocha-Arcadia, on the East Bank of Demerara.

The government, Minister Scott said, has already begun resuscitating cooperatives in Regions Two (Pomeroon-Supenaam); Three (Essequibo Islands-West Demerara); Four (Demerara-Mahaica); Five (Mahaica-Berbice); Six (East Berbice-Corentyne); and 10 (Upper Demerara-Upper Berbice).

Those cooperatives, he said, have been established under the aegis of the Guyana National Co-operative Union Limited with the objective of strengthening the cooperative movement.
“The Cooperative Movement is destined to be a beacon of hope for economic development of our nation,” Minister Scott said, adding:
“In fact, it has the potential of becoming the third pillar of our economic infrastructure.”
Speaking at the traditional year-end review of the performance of his ministry, Minister Scott said that 2017 was a particularly productive year for them, in that among its notable achievements was the resurgence of the cooperative movement.

He was, however, at pains to explain that this was no ordinary resurgence, as the ministry took a fresh approach to the management of Co-operative Credit Unions, Friendly Societies and Co-operative Societies.

This new strategy, he said, was aimed at eliminating corruption and mismanagement within institutions and holding them to higher standards by encouraging transparency and accountability, all of which is intended to meet the criteria of anti-money laundering ideals.
“The intent of this fresh approach is the elimination of corruption, nepotism and other forms of unprofessional behaviour, which are factors that do not reflect human development and the acquisition of a good life,” the minister said.
He said, too, that following a Customer Due Diligence exercise, 42 cooperative societies and 32 friendly societies now await the results, which will determine their approval for registration.

The minister also reported that during September, the Ministerial Taskforce of the MoSP handed over a report intended to examine functioning and non-functioning co-operatives to determine their feasibility for moving the country forward.
Recommendations from the report, titled ‘Revitalisation of the Co-operative Movement’, have already been implemented, Minister Scott said.