During the AGM, a focal point was the sector’s performance. Notwithstanding the challenges brought on by the Covid-19 pandemic, the sector performed creditably in the following areas:
Assets- 6.91% growth to close the year at $1.2billion,
Loans- 7.77% increase to $857 million,
Savings- 8.9% increase to $857 million,
Membership- 4.77% to 80,000 ‘member accounts’
Senator the Hon. Adrian Thomas, Minister of State with responsibility for Agriculture and Lands, Fisheries and Co-operatives, in his remarks congratulated the GCLL and its affiliates on the remarkable growth the sector experienced in 2021. He stated that the AGM’s theme harmonizes with the direction of the Government of Grenada as it embarks on a transformation agenda that will include all sectors. He also encouraged other non-financial co-operatives to become affiliates of the GCLL.
Mr. Denis Felix, Executive Director (Ag) of the Grenada Authority for the Regulation of Financial Institutions (GARFIN), commended the sector for its relatively steady performance during 2021. He expressed gratitude to the GCLL’s management for the support given to GARFIN throughout 2021 on critical matters and challenges that emerged during the sector.
Outgoing Board and Committee members were recognized for their contributions to the GCLL.
Later that evening, a reception was held to welcome Hon. Adrian Thomas to the sector. The opportunity was taken to have Hon. Phillip Telesford, Hon. Lennox Andrews and Hon. Dennis Cornwall as guests due to their very recent connections with the sector.
The event was attended by affiliates represented by Board and Committee members and technical staff of the GCLL.
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Grenada Co-operative League Ltd (GCLL)