Representatives of cooperative societies of the South West region met in Kumba, to celebrate the international day of cooperatives, a yearly event declared by the UN.

The day which was celebrated under the theme “Co-operative enterprises achieve sustainable development for all” was presided at by the first assistant SDO for Meme, Madam Epolewane Verklin Mbua, who thanked the UN for creating an international day for cooperatives.

She told the cooperators that it was time for them to sit up and reflect on their activities to see what they had done and what they had failed to to, adding that they should also use the theme of this year’s celebration to guide themselves.

The representative of the regional delegate of Agriculture and Rural Development, Vesoh Pius who equally doubles as chief of service in charge of cooperative representation at MINADER Regional Delegation reminded all that a cooperative society is an association of persons usually of limited means who have voluntarily come together, to achieve common economic, social or cultural end through a formation of democratically controlled business organisation, making equitable contributions to the capital and accepting a fair share of the risks and benefits of the undertaking.

He said as cooperative societies, there are certain principles to which all must adhere; open and voluntary membership, democratic control by cooperators, economic participation by the cooperators, autonomy and independence, education, training, information, cooperation between cooperatives and voluntary commitment to community.

According to the Regional Delegate, Fowang Lawrence, the law laid dpwn ways by which some limited ways such as authenticating their status, reduced taxes, grant of subsidies and guarantees provision to train staff, consultants and supervisors could be obtained.

In the message of the international cooperative Alliance, one of its goals for the blue print for a cooperative is to “Position cooperatives as builders of sustainability.” Reasons why the cooperative sector needs to explain and show to the world that sustainability is part of its intrinsic nature and that cooperative enterprise make a positive contribution to sustainability.

The aim of the World Cooperative Day was to promote awareness of cooperatives and increase the movement’s successes and ideals of international solidarity, economic efficiency, equality and world peace.