Expanding Domestic Economy: Salient Role Of Cooperatives

“The main barrier to expanding Cameroon's domestic economy is not a lack of interest in business, but widespread public ignorance about how cooperatives operate.” This was the major concern raised by members of the National Confederation of Cooperative Societies for the Economic and Social Development of Cameroon (CONACOOPCA) during a press conference organized to commemorate the International day of Cooperatives on July 4, 2026, in Yaounde. Given the complexities in socio- economic development, CONACOOPCA members emphasized the relevance of investing in the cooperative movement’s fifth pillar that foregrounds education, training, and information. To the movement’s President, Joseph Mbog, “by launching targeted financial literacy and business management programmes, civil society organizations can teach citizens how to set up legal cooperative businesses that meet international market standards and generate sustainable income.” Convened under the theme, “Cooperatives for a peaceful world,” the session edified attendees on the developmental relevance of the movements. According to Nzame Claire, a member of CONACOOPCA, cooperatives improve local economies because they rely on an inclusive part...