The co‐operative revival in some African countries includes a focus on youth as the next generation of co‐operators, where youth are increasingly establishing co‐operatives and joining existing ones. Based on fieldwork with youth co‐operatives in Lesotho and Uganda, the article shows how co‐operatives promote collective learning, and how members learn ‘from’ and ‘with’ each other, leading to new ways of thinking and action. The dynamics are influenced by trust and power relations, the specificities of different co‐operatives and access to co‐operative networks. These findings reinforce the need for a youth policy in the African co‐operative movement and supporting organisations. © 2014 The Authors. Journal of International Development published by John Wiley & Sons Ltd.