The Pan-African Parliament Adopts the Model Law on Cooperatives for Africa
The Pan-African Parliament (PAP) has made a significant advancement in cooperative governance by adopting a Model Law on Cooperatives for Africa during its Third Ordinary Session of the Sixth Parliament held in Midrand, South Africa. The Model Law will serve as a framework to guide the development and review of existing cooperative legislation across the continent. Developed through collaboration between the Committee on Monetary and Financial Affairs, the International Cooperative Alliance-Africa and other key stakeholders, the Model Law aims to harmonize cooperative practices and serve as a benchmark for incorporating best practices in cooperative laws.
A new era for Cooperative Legislation
The adoption of the Model Law is a significant milestone for the cooperative movement in Africa, redefining the landscape for cooperatives across the continent. This groundbreaking law will establish a common legal foundation, enhancing governance, promoting transparency, and ensuring accountability for cooperatives in Africa. By providing a solid foundation for growth and development, it will enable cooperatives to thrive and contribute more effectively to the continent's economic and social development.
ICA-Africa's Involvement
The International Cooperative Alliance - Africa (ICA-Africa) played a pivotal role in the formulation of this Model Law. ICA-Africa's engagement began with a proposal to develop cooperative legislation, which was approved by the PAP's Committee on Monetary and Financial Affairs in November 2022. Following this, ICA-Africa facilitated consultations that brought together key regional stakeholders to contribute their insights into the draft law.
Looking Ahead
The adoption of the Model Law on Cooperatives by the Pan-African Parliament represents a promising opportunity for the cooperative movement in Africa. As ICA-Africa continues to work closely with its members and partners, it aims to foster an environment where cooperatives can thrive, ultimately contributing to the social and economic well-being of communities across the continent.