Six cooperative groups in Fiji are set to advance their operations thanks to government grants awarded under the Cooperative Development Fund. This funding comes from a substantial allocation of $400,000 from the 2024-2025 national budget that aims to enhance the cooperative sector and spur economic development.
At the launch event for the United International Year of Co-operatives 2025, Prime Minister Sitiveni Rabuka praised the impressive progress made within the sector. He noted that Fiji currently hosts 715 cooperatives spanning 15 different industries, involving approximately 40,000 members. Collectively, these cooperatives manage assets worth $151 million, generate $26 million in revenue, and reap profits of $2.5 million.
The government is not stopping here; the Ministry of Trade is set to continue assessing submissions for additional funding opportunities in the upcoming weeks, signaling ongoing support for cooperative ventures.
In a notable advancement, Permanent Secretary for Trade Shaheen Ali introduced a digital cooperative database system, describing it as a transformative tool. This platform will enable all citizens, from urban areas to remote islands, to access vital cooperative information conveniently, enhancing transparency, accountability, and governmental support processes.
Ali highlighted the dynamic growth of the cooperative sector, noting an average of two new cooperatives forming each week. This proliferation is indicative of increasing business opportunities fostered by government backing and collaboration with stakeholders.
The encouraging outlook for Fiji’s cooperative movement reflects a commitment to collective economic empowerment, especially for women and youth. As these initiatives foster community teamwork and sustainable growth, the emphasis on shared ownership presents a hopeful narrative for the country’s socio-economic landscape.
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