Proceedings of the 12th International Conference on Opportunities and Challenges in Management, Economics and Accounting
Year: 2024
DOI:
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Cooperatives The Driver for Women and Youth Financial Independence
Nnajuuko Phausta, and Mutebi Mustapher
ABSTRACT:
Cooperatives play a pivotal role in fostering financial independence for women and youth, particularly in regions where economic opportunities are scarce. Unlike traditional businesses, cooperatives are member-owned and operate for the collective benefit of their members, making them powerful tools for economic empowerment. For women, cooperatives provide access to credit, skill development, and collective bargaining power, enabling them to overcome barriers to financial independence. Similarly, for youth, cooperatives offer entrepreneurial support, access to shared resources, and valuable networking opportunities, helping them to overcome challenges like unemployment and lack of capital. Despite facing obstacles such as limited access to capital and market reach, cooperatives continue to thrive through supportive policies, partnerships, and capacity-building initiatives. By embracing the cooperative model, women and youth can secure their financial futures and contribute to sustainable community development.
keywords: Cooperatives, Cohesion, financial independence and community sustainability