The Organization of Cooperative Societies
· Cooperative societies in Mauritius are autonomous organizations, regulated by the Co-operatives Act 2005 and the Co-operatives (Amendment) Act 2006.
· Any cooperative society may be formed with at least five members and a minimum share capital of Rs5,000.
· The Cooperative Societies are owned and managed by their members. The Board of the cooperative is elected by the members at the Annual General Meeting of the society.
The Main Economic Activities Undertaken By Co-operative Societies
· production and marketing of sugar cane
· production and marketing of vegetables
· livestock breeding
· public transport (bus owners)
· savings and credit –cooperative credit unions
· cooperative retail shops
· agro-processing and food items
Cooperatives account for:
Ø 65% of onion production
Ø 70% of fresh green vegetables production
Ø 45% of potato production
Ø 10% of national sugar production -40% of sugar-cane planters are grouped in cooperatives
Ø 40% of the national bus transport
Also, the Cooperative Credit Unions sector comprises some 160 societies with a membership of around 75,000 and accounts for a turnover of some Rs2 billion.
Ø Cooperatives to become financially and functionally autonomous.
Ø Cooperatives to adopt new management and accounting techniques.
Ø Cooperatives to target business efficiency and effectiveness while adhering to their social objectives.
Ø Formation of cooperatives in new sectors such as green energy
Ø Formation of cooperatives by women and youth
Ø Appropriate Human Resource Development programmes
Ø More cooperatives to be fairtrade certified