Govt must provide support to agric cooperatives to enhance food security – Dr Bingab
The National Board Chairman of the Ghana Cooperative Credit Unions Association (CUA), Dr Bernard B.B. Bingab, has urged the government to provide support to cooperatives in the agricultural sector, recognising their proven potential to transform the industry.
Dr Bingab emphasised that this approach holds significant promise for ushering in a new era of agricultural transformation, ultimately enhancing food sustainability and security.
He stressed the urgent need of “revisiting and revitalising” the cooperative model for poverty reduction and food security, and added that the government, including future administrations, should pay attention to cooperatives.
Speaking during the ‘International Cooperative Day’ celebration in Accra last Friday, Dr Bingab noted the financial burden on cooperative unions since they were no longer exempted from corporate tax, a change introduced in the 2015 Income Tax Act.
The Minister of Employment and Labour Relations, Mr Ignatius Baffour Awuah, in his remarks acknowledged the historical significance of cooperatives in the country, and therefore underscored the importance for unity in business and modernising the operations of the Cooperative Department to facilitate the formation and operation of associations.
Mr Baffour Awuah also encouraged a return to cooperative methods for development, citing the potential of pooling resources through “crowd-funding” to accelerate development and erect skyscrapers.
Noting outdated laws governing cooperatives, Mr Baffour Awuah announced ongoing efforts to review these laws, with a committee already in place for this purpose, hoping the committee’s work would result in more functional and modernised laws.
The Acting Registrar-CUA, Kwabena Apraku Yeboah, on his part revealed that this year’s global Cooperative Day celebrations aimed to assess the impacts of cooperatives and plan for further development
He disclosed that a new Cooperatives Bill, led by the Department of Cooperatives and the sector ministry, was in progress to strengthen the cooperative sector.
BY RAISSA SAMBOU
