Minister of State in Foreign Trade and Business, Sandra Husbands, has identified the use of digital payments as key to the co-operative movement as it moves forward.
And, Ms. Husbands said the Ministry of Energy and Business, through the Department of Co-operatives, is planning to introduce the non-financial co-operatives to digital payments.
“Introducing our co-operatives to the use of digital payments is going to be one of the objectives that we will have for this year, to make sure that all of our members understand how this can help and advance their business, and give them the ability to be able to use the technology comfortably, safely, [and] confidently….
“We believe that this is going to accelerate spending…. A lot of people have been reducing their ability to walk with cash; they walk with their cards, and therefore our getting on to a digital platform will allow you to increase the amount of sales which you can enjoy,” the Minister stated.
She was speaking at the official opening of A Village-A-Fair, on Saturday, at the Golden Square Freedom Park, Bridgetown. This event was hosted by the Co-operatives Department, to observe International Day of Co-operatives, which is celebrated annually on the first Saturday in July.
Ms. Husbands told her audience that the Ministry of Energy and Business was committed to the co-operative movement, and was keen to see an expansion of its membership. “We would want to see that we have strong exports coming from the co-operative sector of this country,” she stressed.
Noting that co-operatives had proven to be resilient in good and difficult times, Ms. Husbands continued: “Even in the face of unforeseen crises, the function of co-operatives has allowed its members to recover, to go on, and to continue to grow.”
During her address, the Minister underscored the importance of standards, saying they were critical if local goods and services were to be taken to the world stage.
She added that the Ministry of Energy and Business, through the Barbados National Standards Institution, “is standing ready” to work with the co-operative movement to help members get certified.
“That certification will give you entrance into markets all across the world, and this is another area that we intend to work on with our co-operatives this year, to ensure that we are meeting international standards. This is what will make the difference,” Ms. Husbands surmised.