CDA sees increase in coops PDF Print E-mail
Sunday, 05 November 2017 16:59

More cooperatives are expected to be organized in the future as a result of drug rehabilitation programs, according to an official of the Cooperative Development Authority (CDA.)

Orlando Ravanera, CDA Chairman, said that he sees an increase in the number of cooperatives in the next five to seven years due to organizations established for rehabilitated drug victims.

There are currently 26,599 registered cooperatives in the country.

Around 14-million people are reportedly members of these cooperatives.

Ravanera said that easier terms make cooperatives more attractive to people who are looking for ways to invest their money.

It is easier to borrow from cooperatives as they have lesser requirements compared to bigger institutions such as banks, according to Ravanera.

Cooperatives also come first in job generation as small entrepreneurs borrow from cooperatives for their business and hire personnel to help them.

Some of the businesses being assisted by cooperatives are those into animal raising, farming, habal habal, small eateries, and others.  (RGAAGo)