Fiji is home to over 700 registered cooperatives across 15 sectors, collectively managing assets valued at $151 million. These cooperatives serve approximately 40,000 members, generating a notable $26 million in revenue and reporting profits of $2.5 million.
Today, Prime Minister Sitiveni Rabuka is set to launch the International Year of Cooperatives 2025 in Nausori, an initiative designated by the United Nations General Assembly. The 2025 theme, “Cooperatives Build a Better World,” emphasizes the significant global impact of cooperatives in tackling world challenges and their contribution towards realizing the Sustainable Development Goals by 2030.
The Ministry of Cooperatives noted that since the establishment of Fiji’s first cooperative in 1948, the sector has evolved remarkably. Originally focused on consumer and copra-producing cooperatives, it has diversified into areas such as carbon trading and renewable energy, thus spurring innovation and bolstering the nation’s economy.
In recognition of their importance, the Fijian government has introduced various support programs to enhance the cooperative sector, understanding its vital role in promoting socio-economic advancement.
The positive trend in cooperative participation reflects an engagement with vital social objectives, emphasizing community building and the importance of collective efforts. Programs targeting youth and women’s empowerment within this sector show promise as they create sustainable income opportunities and instill values of shared ownership and democratic governance, exemplifying the principles of equality and respect within these business models.
The continued growth and diversification of cooperatives in Fiji present a hopeful outlook for the economic landscape, potentially leading to a more equitable and sustainable future for the country.
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