Development agency to be establishedPosted on Tuesday, July 10th, 2012 by Sapa (Moneyweb, Johannesburg) in News
Trade minister Rob Davies announced on Saturday that a development agency would be established as a result of the Co-operatives Amendment Bill.
The agency will be a body for both financial and non-financial support “tailor-made for co-operatives”, he said.
“These will include administration of incentives, provision of training and improvement of working conditions in the co-operatives sector,” said Davies.
He was addressing the International Co-operatives Day celebrations at the Mittah Seperepere Convention Centre in Kimberley.
He said the bill also provided for the setting up of a tribunal and an advisory council.
“The proposed institutions will then assist the government to reduce the mortality rate amongst co-operatives and ensure their sustainability,” he said.
Davies said these will ensure that co-operatives take their rightful place and contribute effectively to the country’s economy as they have the capacity to create jobs and eradicate poverty.
“We appeal to the private sector and government to seriously consider procuring goods and services from co-operatives and form a strong symbiotic relationship,” he said.
International Labour Organisation director Vic van Vuuren said co-operatives currently provided employment to more than hundred million people worldwide.