50 new co-operatives registered since the COVID-19 outbreak in Fiji

Since the COVID-19 outbreak in Fiji, the Ministry of Commerce, Trade, Tourism and Transport has registered a total of 50 new co-operatives, mostly engaging in administrative, support service and wholesale and retail sector.

In a statement marking the 27th International Co-operatives Day, Minister Faiyaz Koya says in the past 15 months of adapting to the global pandemic, co-operatives have suffered tremendously.

He says despite this, co-operatives have become resilient and responsive to the needs of their members in areas of health, agriculture, production, retail, finance, housing, employment, education and social services. Koya adds with the co-operative values of self-help, solidarity and the ethical values of social responsibility and concern for the community, co-operatives continue to showcase that they can sustain and help rebuild their community together.

He says co-operative businesses are identified as people-centred enterprises and has been thriving in Fiji since the 1940s and is a business model that remains very much relevant in today’s times.

Koya says co-operatives can be found in all divisions, even in the most remote parts of Fiji. He adds with over 400 operating co-operatives all over Fiji that hold over $132 million worth of assets, the co-operative industry was able to earn $17.7 million in revenue over the last five years despite the current economic situation.

Koya revealed that today, there are close to 25,000 Fijians who are members of co-operatives in Fiji.