Abstract:
This study is about the contribution of cooperatives in improving the socio economic status of members. Basotho men and women established cooperatives due to high unemployment rate and food insecurity, they did this to create employment for themselves., Lesotho’s economy is struggling to grow and many products are imported from South Africa, evidence from Lesotho shows that the main contributors of Lesotho’s GDP are the booming tertiary sector but despite the booming tertiary sector in Lesotho, the country is still confronted with many development challenges which include unemployment..In this scenario, cooperatives gather local people and pool their resources to gain power to participate and influence market forces and community development. The study further employs modernisation theory as a means to have access to larger markets. The study concludes that cooperatives members have the potential to compete with international markets but lack of financial power has forced them to produce for the local community.
