What you need to know:
Speaking at the launch of the awards at Kabila Country Club in Kampala yesterday, the Chief Executive Officer of Uhuru Institute of Social Development, Mr Leonard Okello, said the prestigious award series has been designed to identify, document, evaluate, amplify and reward cooperatives that have showcased exceptional innovation and adaptation, enhanced membership value , business stability and resilience among others
The Uhuru Institute for Social Development in partnership with NTV- Uganda and Spark TV, among other partners, have unveiled the Coop 360 Innovations Award Series to reward and nurture innovations towards cooperative competitiveness and enhanced member value.
Speaking at the launch of the awards at Kabila Country Club in Kampala yesterday, the Chief Executive Officer of Uhuru Institute of Social Development, Mr Leonard Okello, said the prestigious award series has been designed to identify, document, evaluate, amplify and reward cooperatives that have showcased exceptional innovation and adaptation, enhanced membership value , business stability and resilience among others.
“The innovations award has been informed and inspired by our research findings and daily interactions with cooperatives that confirm the critical role of member patronage in driving the success of any cooperative enterprise,” he said.
“Patronage is ensured when services to members are delivered through the lenses of the cooperative values, ethics, and principles, all of which place members at the centre of economic, social, and environmental ideas of their cooperatives,” Mr Okello added.
The award series encompass four categories. They are; improved quality of life, climate smart business models for development, leveraging science and technology for business efficiency and competitiveness, as well as marketing and communications.
Ms Vivian Ritah Ananukye, the Band Executive at NTV-Uganda, said the partnership will enable the brands to give back to the community.
“We are obliged to come on board and partner with Uhuru Institute to create a positive impact in our community. Working with cooperatives, including farmers’ cooperatives, is one of the ways we give back to our viewers,” Ms Ananukye said.
Ms Jane Akello Amuge, the Operations Director at Uhuru Institute for Social Development, commended NTV Uganda for giving them a hand in organising the awards.
“NTV is our media sponsor. They will be walking this journey with us as a key media partner in the innovations award. They will also document innovations of various participants,” Ms Akello said.
Other partners include, MTN Uganda, Flexdrone , Hydroponic Farms Uganda, Liberty Insurance Uganda and Goldstone Consulting.
Ms Akello said the awards are open to all cooperatives in Uganda.
She, however, said those who wish to participate should have a valid registration certificate from the Ministry of Trade Industry and Cooperatives, minutes of the annual general meeting for the last financial year, a functional board, supervisory and vetting committees, a capital size of a minimum of Shs10m.
In addition, the cooperatives should provide evidence of generating at least Shs20m in annual turnover in the previous year.
Ms Akello noted that participants should have an annual turnover of between Shs20m and Shs100m for small size cooperative clusters, Shs100m to Shs360m for medium size clusters and Shs361m and above for the large size cooperative cluster.
Applications will kick off on Monday next week.
Ms Jane Akello Amuge, the Operations Director at Uhuru Institute for Social Development, said the prizes to be won are cash up to Shs20m for overall winner and Shs10m for the second runners up, among other goodies. The winner will also be given the opportunity to visit tourist sites in different parts of Uganda.