Abstract
Purpose: Cooperatives in Ghana, despite the history since 1920s, have contributed minimally to the national economy and demonstrated only a few success cases as socioeconomic enterprises. This study aimed to identify policy factors which enable the promotion of cooperatives in Ghana, and suggested actions to be taken by the government of Ghana and development partners.
 Originality: Korean researchers have rarely studied African cooperatives. Cooperatives are a proven mechanism for the economic advancement of developing countries, while Korean cooperatives have been globally recognized as excellent business organizations. This study presents an implication to roles of development partners like KOICA in empowering Africa’s cooperatives as a development cooperation agenda.
 Methodology: An ordered Probit model was employed to identify determinants of effectiveness of Ghana’s cooperative policy. The data was collected from 94 public officers and 5 employees of private entities in the cooperative sector.
 Result: Public awareness of cooperative’s benefit and audit service influenced effectiveness of Ghana’s cooperative policy. The policy should prioritize support to cooperatives’ empowerment, and the most urgent resource required by the Department of Cooperatives (DOC) was budget allocation. As a means to measure performance of DOC, number of cooperatives which own a valid certificate was most preferred.
 Conclusion and Implication: DOC is recommended to strengthen officer’s audit service and consider running a public awareness campaign on cooperative’s benefits. The Ministry of Employment and Labour Relations (MELR), as an overarching ministry of cooperative policy of Ghana, should quicken the revision of the Cooperative Societies Act and upgrade statistical reporting. Development partners such as KOICA are advised to identify a joint project with MELR/DOC to empower the cooperatives. Cooperative leaders and members should actively seek an opportunity for training and business transactions, and strengthen a partnership with their community.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Korea Association of International Development and Cooperation
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
