The United Nations Partakes in the SADC Youth Cooperative Summit Addressing Funding and Development Opportunities Through the SDGs for Youth in Cooperatives

Hosted by the Eswatini National Youth Cooperative Alliance (ESNYCA) and the Ministry of Commerce, Industry and Trade, the United Nations partook in the SADC Youth Cooperative Summit on 30th November 2021, at Esibayeni Lodge.

Youth unemployment amongst persons aged 15 to 24 years of age in the Kingdom of Eswatini remains exceptionally high at 47.4 percent, as of 2017, equating to approximately 1 in 2 young people unemployed. The Summit therefore sought to seek and address pivotal opportunities for young people to thrive, including through co-operatives, themed: ‘Rebuilding a sustainable future together, leaving no young person behind.’

Summit participants included SADC delegations, the Youth Federation Coop, Eswatini National Youth Cooperatives Alliance, the International Cooperative Alliance, leaders of enterprise and entrepreneurship, as well as youth from across the country.

On behalf of the Acting UN Resident Coordinator, UNRCO Team Leader and Strategy Planner, Mr Benjamin Ofosu-Koranteng, addressed the young participants on ‘Funding and development opportunities through the SDGs for youth in co-operatives,’ on the first of the four-day Summit.

With less than eight years remaining to achieve Agenda 2030 for Sustainable Development and the world seeks to recover from the devastating COVID-19 pandemic, “we need to ensure that cooperatives remain crucial actors,” stated Mr Ofosu-Koranteng.

“Evidence suggests that in the aftermath of the financial and economic crisis, there has been widespread public dissatisfaction with most conventional businesses which are seen as overly profit driven. Cooperatives and cooperative organizations point to renewed public interest in the cooperative business models, as enterprises are run for the benefit of their members rather than to maximise investor returns,”

“Cooperatives can help young people both to find work and to gain work experience. They offer opportunities for professional and vocational training,” continued the UNRCO Team Leader.

However, challenges prove plentiful for young people participating in cooperatives, with out-dated models and a general lack of sufficient knowledge about the cooperative business model. Favourable legislation, cooperative incubators, financing opportunities and business support services for emerging cooperatives often prove minimal, and at times, non-existent.

“Let us consider including cooperatives as a subject matter in school curricula, as well as setting up coop incubators and support services as part of business development services offered by the public and private at national levels.”

“We need to promote collective entrepreneurship as a suitable option for youth; given the challenges and risks faced by young people starting businesses. We should promote internships and apprenticeships in existing cooperatives to widen the exposure to the young,”

“Lastly, we need to create an enabling environment for new types of cooperatives to emerge, especially in line with sustainable development. These may include environmental protection, renewable energy, water and sanitation, food security and many others,” stated Mr Ofosu-Koranteng.

Through Agenda 2030 for Sustainable Development and the United Nations Eswatini Cooperation Framework (UNSDCF) 2021-2025, the United Nations is committed to creating “a just, prosperous and resilient Eswatini where nobody is left behind,” including young people. The United Nations actively supports youth initiatives such as the Youth Tunnel Project Initiative, in partnership with the Woman Farmer Foundation and Standard Bank Eswatini, empowering young farmers to grow sustainable, resilient and profitable crops.