A historical review on the Global evolution, benefits, challenges and performance of Cooperatives.

Abstract

This review article discusses the economic history and evolution of cooperatives, as well as how they have changed the worldwide life of people and countries as a whole. Cooperatives originated in the United States and expanded to the United Kingdom, Italy, Denmark, Russia, and India before reaching Africa. They have been successful because to their simple formation method, exceptional governance ideals, and member unity. Researchers conducted a Historical Methodology evidence and interpretation study that included written, oral, and physical evidence, as well as primary and secondary sources, including unpublished information. Most women in poor nations lack access to education and productive resources, making it difficult for them to make a living and actively engage in socioeconomic and political circumstances. Africa as a whole is seeing a breakthrough by one of the "World's fastest-growing economic giants" in achieving gender equality and women's economic empowerment, which are Millennium Development Goals. This paper elaborates on the advantages of cooperative development, economic growth patterns and financial independence of women as shown by cooperatives. Global issues that must be addressed include fraud, illiteracy, small loans and the way ahead. As a result, the proposals to make cooperatives more efficient are: train, educate, and develop; monitor and assess performance; government action to lift up communities and build a world that is more equal and sustainable for everyone. Keywords. Global Evolution, Benefits, Performance and Challenges of Cooperatives