Cooperatives contribute VT1.6 billion to economy, official says

April 15, 2026 10:51 pm | Posted in Business News | Share now TwitterFacebook

By Nicholas Mwai.

Cooperatives across Vanuatu are playing a growing role in the national economy, generating an estimated VT1.6 billion in economic activity, an official from the Department of Cooperatives says.

Manager of Business Management Services and Training, Leintz Vusilai, revealed the figures during a speech at the recent launch of the Indigenous Cooperative in Freshwota 2.

“We have about 463 cooperatives in Vanuatu that are registered under the Department of Cooperatives and are currently functional, based on our 2025 financial year report,” Vusilai said.

He said these cooperatives involve around 17,000 active members nationwide, showing their wide reach in supporting local livelihoods.

“They are actively participating, about 17,000 members of cooperatives around Vanuatu,” he said.

Vusilai said the cooperative sector is not only growing in numbers but also contributing to the economy.

“Economic activity for cooperatives alone, the transfer of money through members, reached VT1.6 billion as of last year. That is money circulating through the cooperative economy that we can measure in real time,” he said.

He said the Department monitors cooperative performance through regular financial reporting and record checks.

“We give them registration, and they record daily how many members come shopping.

“At the end of the financial year, we check the records to see how much money they make and how much is returned to members,” he said.

Beyond income generation, cooperatives are also building a culture of savings among ni Vanuatu, with total member savings now above VT100 million.

“Savings of members through cooperatives, whether through savings accounts or statutory reserves, are now over VT100 million,” he said.

He said this growing pool of savings could open the way for greater financial independence.

“This means ni-Vanuatu are capable of starting or owning their own bank, a bank of the people of Vanuatu,” he said.

While acknowledging the presence of commercial banks, Vusilai said cooperatives can help create alternative financial systems that are more accessible to local communities.

“It is true we have banks, but they are commercial. Through these kinds of activities and savings, we can create our own credit facilities that people can access,” he said.

The remarks point to continued government support for cooperatives as a driver of inclusive economic growth, helping communities take greater control of their financial future.