News / National
189 new co-operatives registered in 2011
30 Dec 2011 at 15:19hrs | Views
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.
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.
Source - Zbc News
