The strategy can adopt the following ways to promote the cooperatives and ensure their sustainability.
- Building effective management information systems (MIS)
- Reaching large number of clients with vision for growth;
- Promoting savings services and diversify savings products;
- Offering services that fit the clients’ needs and diversify loan products;
- Simplify procedures to reduce operational costs;
- Motivating clients to repay loans and focuses on high repayment;
- Attaining financial sustainability by charging sufficient interest rates and fees;
- Involving clients when designing services;
- Promoting effective governance, – characterized by democratic and transparent decision-making;
- Targeting clients properly;
- Focusing on financial services only;
- Developing institutional linkages;
- Mobilizing internal resources in the form of share capital, long term savings and reserves;
- Offering patronage rebate to members in proportion to the services used;
- Integrating cooperative training and education in the regular services of the cooperative.
Microfinance, Cooperatives and Microinsurance as Sustainable Solutions……….Goal of Microfinance and Cooperative Strategy……….Cooperatives as a Means to Promote Sustainable Livelihoods……….Self-Help Groups……….Entry-Point Activities……….Savings and Credit Cooperatives……….Sustainability of Cooperatives……….Gender in Microfinance and Cooperatives
