How to create OHADA-based co-operative society?
Since December 2010, the legal environment of CO-OPERATIVE SOCIETIES AND COMMON INITIATIVE GROUPS HAD BEEN witnessing a significant progress with the adoption, by the States parties to the OHADA Uniform Act, of the co-operative societies. Such uniform act was applied in the States parties since May 15, 2011. It entered into force since May 15, 2013 after a period of moratorium of two years.
The OHADA Uniform Act ushers in innovations in:
- The organizational and functional framework of structures governed by it. As a matter of fact, these regulations establish two types of co-operative societies (the simplified co-operative society and the co-operative society topped by a Board of Directors) whose functioning and management vary on several aspects (number of members at the inception, management and control organs, etc.);
- The institutional framework: the registration (and no longer enrolment) as well as the monitoring of the application of regulations experience innovations which result in pertinent changes in the functioning of services in charge of the Register.
PIDMA closely collaborates with the co-operative societies which are topped by a Board of Directors. The main stages towards the setting up of such types of co-operative societies are as follows:
- A genuine conscience awakening for the promotion of a win-win partnership between the co-operative society’s members and the co-operative society proper;
- A commitment by the producer upon an individual brainstorming exercise;
- A commitment by the co-operative society’s member following a collective brainstorming exercise;
- Elaboration of the articles of association and Internal Regulations;
- Organization of a General Constituent Meeting and endorsement of instruments;
- Endorsement and implementation of a sustainable and efficient fund-raising strategy;
- Registration of the co-operative society.