590 co-operatives in Fiji generate $2.5 million profit - Kamikamica

590 co-operatives in Fiji generate $2.5 million profit - Kamikamica

By Mansi Chand
Monday 20/05/2024
Deputy Prime Minister, Minister for Trade, Co-operatives, SMEs and Communications, Manoa Kamikamica

There are 590 operating co-operatives across 15 sectors in Fiji and collectively they hold around $151 million worth of assets earning around $26 million and generating around $2.5 million in profits.

This was highlighted by Deputy Prime Minister, Minister for Trade, Co-operatives, SMEs and Communications, Manoa Kamikamica while delivering his ministerial speech in Parliament, where he also said that they have also prioritised this area for economic development and rural transformation across the country.

The Deputy Prime Minister says co-operatives can unlock productivity loss of idol resources, derive economic returns and play an important role in economic development.

He says co-operatives have started to get international recognition such as being invited by the International Co-operatives Developing Alliance to the Ministerial Conference in Jordan which happened from the 28th to 30th of April.

He says Fiji and Papua New Guinea were the only nations from the South Pacific invited for this conference.

He says the theme was “Partnership between government cooperatives for cooperatives resilience, suitability and inclusive growth in the Asia-Pacific region” as the objective was to examine the state of co-operatives and the potential for resilience development.

Kamikamica informed parliament that the platform provided an opportunity to share experiences, understand global developments and reiterate their position on co-operative development.

Kamikamica says in terms of women's leadership, this has increased by 236 percent increase.

Meanwhile, FijiFirst MP Faiyaz Koya says they appreciate the engagement with the International Co-operatives Developing Alliance because this is one area in Fiji where it has remained apolitical.

Koya says co-operatives provide the country with an opportunity to empower people and safeguard future generations and 379 co-operatives run throughout Fiji that hold about US$58 million of assets. He says this comes from a vast range of sectors.

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