Annual report on Basutoland / Colonial Office.

  • Great Britain. Office of Commonwealth Relations.
Date:
[1960]
Catalogue details

Licence: Public Domain Mark

Credit: Annual report on Basutoland / Colonial Office. Source: Wellcome Collection.

    21/154 (page 15)
    Statistics. The statistical section of the Department has been busily engaged in carrying out an agricultural census in con¬ nection with the F.A.O. World Census of Agriculture, the re¬ sults of which will be published as a separate document in due course. 4. CO-OPERATIVE SOCIETIES In 1960 there were several important developments in the Co-operative Movement, although, especially in the last quarter, the shortage of departmental staff brought about many problems. At the beginning of the year, the old Trading Account of the Agricultural Department was taken over, with the intention of converting it into a central Co-operative Supply and Marketing Organisation which at the same time would absorb the trading departments of the Basutoland Co-operative Bank¬ ing Union. Negotiations to bring this new Co-operative into being went on until October when it was eventually registered as the Basutoland Co-operative Federation, a partnership be¬ tween the Basutoland Co-operative Banking Union and the South African Farmers’ Co-operative Union (F.C.U.) The lat¬ ter organization was invited to participate to provide mana¬ gerial ‘'know how”, as well as supply and marketing channels. Loan capital for B.C.F. was to be made available from the Re¬ volving Loan Fund. The Banking Union, having shed its trading operations, be¬ gan to settle down as a central co-operative bank. It has steadily increased its deposits, both directly and indirectly via the associated Savings Society, and has financed primary societies for agricultural credit and marketing. Towards the end of the year Revolving Funds totalling £80,000 became available to strengthen the Banking Union’s support for the primary societies. During the winter of 1960, the agricultural loans issued in October 1959 were due for recovery. Because of the delay in the setting up of the Basutoland Co-operative Federation, which should have marketed the crop and thus recovered the loans, this proved an extremely arduous task in which the small departmental staff had to assist. Nevertheless the rate of recovery achieved was 100% everywhere except in Leribe district where delays occurred because of the breaking down of a single large society into several small ones. It is however anticipated that once the records have been sorted out, this loan also will be recovered.