African cooperatives and the financial crisis

Considers how institutions from the social economy, particularly cooperatives and cooperative financial institutions throughout the world and in Sub-Saharan Africa, are managing the current crisis and how they may be contributing to impact mitigation.

The volatility occurring in global financial markets noted from mid 2007 onwards has brought with it serious and long term consequences for the real economy, including escalating foreclosure or downsizing of enterprise leading to increases in unemployment and volatility in commodity markets that entails loss of income and decreasing in household budgets. This paper considers how cooperatives in Sub-Sahara Africa are being affected by the financial crisis. The paper provides an analysis of the triggers of the crisis and considers how sectors of the economy, particularly those concerned with export markets and the financial sector have been affected by the crisis. The article draws focus on cooperative financial institutions and agricultural cooperatives, particularly those concerned with export markets.