189 new co-operatives registered in 2011

Zimbabwe has witnessed a surge in the number of co-operatives registered with the Ministry of Small and Medium Enterprises and Co-operative Development as social entrepreneurship takes root in the economy.

At least 189 new co-operatives were registered this year, bringing the total of registered co-operatives in the country to an estimated 4000.

The country's co-operatives are mostly found in the housing sector, small businesses and savings and credit unions.

Small to Medium Enterprises and Co-operative Development Minister, Sithembiso told Zbc News that the increase in the number of co-operatives can be attributed to failure of the capitalist system which has given rise to co-operatives as an economic option for many people.

"When we took over the co-operatives, they were kind of slacking but they are now up and running," she said.    

According to some members of housing co-operatives claim that the desire by many city residents to own their houses is the major driver behind the increase in the number of co-operatives in the sector.

The closure of many industrial companies in recent years forced many unemployed people to form small business co-operatives that are providing employment to many.

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