MINISTER of Labour, Joseph Hamilton, in his message in observance of International Day of Co-operatives, highlighted the many steps that are being taken to ensure that Guyanese are aware and are able to benefit from the co-operative societies that exist locally,

According to the minister, this year’s theme, ‘Co-operatives build a better future for all’, underscores his ministry’s efforts in showcasing the significant role each co-operative has in aiding in the development of Guyana and creating a better future for all.
The 2023 UN Secretary General’s report on co-operatives and social development, acknowledged that co-operatives have a track record of promoting the economic and social development of all people, including marginalised groups.

“Co-operatives consistently show their resilience in times of social and economic crises. The United Nations recognises the co-operative movement as its key partner in accelerating sustainable development and calls on its member states to support and strengthen co-operatives entrepreneurial ecosystem,” the minister said.

That he explained can increase their capacity to create more social, economic and environmental impacts in society.
“Co-operatives are people-centred not capital centred. They do not perpetuate or accelerate capital concentration, and they distribute wealth more fairly. Through dialogue, democratic governance and shared ownership, co-operatives set an example for peace and stability, bringing people from diverse backgrounds together, on equal terms and fostering mutual understanding and respect,” he stated.

According to the minister, in Guyana, it is believed that co-operatives are the key to enhancing and uplifting the standard of living of people. As such, the establishment of multiple co-operative societies in areas such as agriculture, land, housing, utility services, consumers and credit unions and for fishermen is encouraged.
Further, he said that those types of co-operatives have the potential to create a better future for all.

Minister Hamilton made mention that the Attorney General’s Chambers, in collaboration with the Co-operatives Department at the Ministry of Labour, has been working to ensure that all members of housing co-operatives on the East Coast of Demerara, receive their transports, and titles for their houselots. The acquiring of these documents allows members to use them as assets for bank loans to build their houses or to do general improvements that would positively impact their lives.

Notably, it was stated: “Lands were given to several agricultural co-operative societies to facilitate the engagement of farming, with some of them being able to engage in large-scale farming,”
One example of this is the current farmers’ co-operative society which oversees the cultivation of some 3,000 acres of rice, and the Hopetown Multipurpose Co-operative Society Limited which has evolved from being a housing co-operative into what it is today.

Apart from dealing with houselots, the minister pointed out that, today, this Hopetown co-operative society is involved in the transportation and rice cultivation sectors.
Additionally, Minister Hamilton stated that the co-operatives not only benefit their members economically, but have a ripple effect across society.

He said: “Jobs are created for many within the communities, such as heavy equipment operators and labourers to work in the fields. These employees take home a weekly income to their families which assists them to build a better future.
“Many persons were able to own a houselot and build a house by being a member of a co-operative society.

The Friendly Societies are being converted to co-operative societies, and will become compliant with the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act at no cost to the department, and, at the same time, the co-operatives will assist the Forestry Commission to ensure that the harvesting of logs is done in a more structured manner and that the members of these societies adhere to the laws,” the minister stated.

He added that this collaboration between the Co-operatives Department and the Guyana Forestry Commission has resulted in the building of a better future for many Guyanese residing in hinterland communities.
Many persons residing in these communities are now engaged in their own businesses from which they are able to benefit economically, while at the same time creating jobs for persons within their communities.

Additionally, by being a member of a registered group, persons can reap from benefits such as access to small grants and equipment from local and international organisations when they are available.
Beginning in 1927, International Co-operatives Day was observed on the first Saturday in July annually by the International Co-operatives Alliance (ICA), which was formed in 1895.

In 1994, the United Nations (UN) recognised and reaffirmed that co-operatives were vital to the economic, social and cultural development of the world. As a result, the UN General Assembly proclaimed the first Saturday in July from 1995 onward as the International Day of Co-operatives.