On Monday, August 26, 2024, the first cohort of ten logging groups previously registered under the Friendly Societies Act officially transitioned into Cooperative Societies.
A release from the Ministry of Labour said that this significant development was marked by the presentation of official certificates of registration by the Department of Cooperatives and Friendly Societies, Ministry of Labour, in collaboration with the Guyana Forestry Commission (GFC).
This transition is the result of a Memorandum of Understanding (MOU) signed earlier this year between the Department and the GFC. The release said that the project is funded by the European Union’s Forest Law Enforcement, Governance, and Trade Voluntary Partnership Agreement (EU FLEGT VPA), which aims to promote transparency, accountability, and the safeguarding of rights for all members of society.
The project’s second phase will focus on converting an additional 12 logging groups. The shift from Friendly Societies to Cooperative Societies is critical, as Friendly Societies, being charitable organizations, are restricted from engaging in profit-making activities, the release noted. By becoming Cooperative Societies, these groups can now access forest concessions and operate as business entities.
