ADDIS ABABA- The Ethiopian Cooperative Commission (COOP) said cooperatives have been playing a great role in improving agricultural products, facilitating technology transfer and strengthening market linkage thereby stabilizing the soaring inflation.
The 9th National Cooperatives Exhibition, Bazaar and Symposium held yesterday under the theme “Cooperative Marketing for Peace and Stable Market.”
Addressing the event, the COOP Finance Cooperatives Development Director Berhanu Aufera stated that the cooperatives have made an iconic contribution in providing agricultural commodities at a reasonable price for the urban low-income communities and help to stabilize the cost of living. In the past eight years, cooperatives are growing greatly in number, service delivery and population size.
The Commission has 100,000 cooperatives and 400 cooperative unions with 24 million active members across Ethiopia. Cooperatives have been also serving 500,000 unbanked citizens in keeping fair interest loans. Currently, cooperatives provide loans at a maximum level up to seven million Birr to their members. “Therefore, the government and private sector should learn the significant impact of cooperatives in different fields that minimize the social and economic problems of the people.”
“It means that cooperatives have played decisive roles in transforming technology, realizing industrialization, increasing productivity, reducing inflation and making market linkages via avoiding contraband and the like,” he added.
As to Berhanu, the main aim of the cooperatives is to ensure the sustainable benefit of both the supply and demand sides of the market, exploring different market opportunities, keeping product quality, and avoiding bureaucratic red tape. 176 producers from different parts of Ethiopia came with their products to take part in the symposium. In this regard, it will supply 5,000 quintals of products and is expected to create a market cap for 25,000 citizens.
Speaking to The , Merkeb Multipurpose Farmers’ Cooperative Manager, located in Bahir Dar town of the Amhara State, Getachew Eshete stated that his firm provides agricultural productivity supplies and he is searching the market for products. “Even though cooperatives have played a substantial role in addressing social problems, we are seriously affected by the terrorist TPLF invasion of the Amhara State.”
The manager further claimed that Merkeb has been actively discharging its corporate social responsibility including educating the children of the local community, building schools and health centers at the outlay of over 10 million Birr. “To achieve the expected result from cooperatives, it needs to create conducive business climate and build the public’s awareness, among others.”
The 9th National Cooperatives Exhibition, Bazaar and Symposium will stay till February 14, 2022, it was learned.
BY MESERET BEHAILU
THURSDAY 10 FEBRUARY 2022
