The Board of Directors and the Management team of the National Food Security, Processing and Marketing Corporation (NFSPMC), formerly known as GGC, briefed President Adama Barrow on the state of the corporation and its efforts to reform and revitalize it. President Barrow welcomed the team at the State House on Friday morning and expressed gratitude for their hard work in reviving the Corporation.
“We inherited an institution in a dire situation with wrongful termination costs from the former government, which had to be paid, money that could have been used to re-capitalise the Corporation,” President Barrow told NFSPMC.
President Barrow commended NFSPMC for working cordially with farmers, aligning with his government’s direction. He pledged support and advised the Board to consider innovative financing sources, adding, “It's a shame that after 60 years, we can’t sustain adding value to our main cash crop, groundnut.” He stated that his government has plans to support value addition and sustainable food security policies and programs.
The Chairman of the Board, Seyfo Falalo Touray informed the President that the Board continues to work hard to revive the Corporation with professional and qualified staff. The Corporation, with government support, has heavily subsidized fertilizer for farmers, provided seeds, and engaged in commodity markets to maintain fair prices of food commodities. He commended his colleagues for reforms aimed at creating a corporation that meets farmers' and consumers' needs. Additionally, Chairman Touray appealed for government support and outlined plans to enhance processing facilities, river transportation, and modernizing cooperatives in the country.
A board member, Chief Yaya Jarjusey appealed for government intervention to establish modern cooperatives where farmers can have a voice by working with experts on good governance and accountability.
Managing Director Muhammed Njie reported progress made in reforming the Corporation's governance and operations. He mentioned completing outstanding audits submitted to the SOE Commission. Njie added that their processing plant is advancing by exploring alternative energy sources and digitalization.
Agriculture Minister Dr. Demba Sabally assured NFSPMC of governmental support while revealing Cabinet approval of a Cooperative Policy guiding these reforms.
In another engagement at State House, President Barrow received delegates from African Guarantee and Economic Cooperation Fund (FAGACE). Managing Director Mr. Ngueto Tiraina Yambaye expressed interest in The Gambia's membership in FAGACE.
Mr. Tiraina said FAGACE views The Gambia as a new investment destination aiming to partner with its development agenda by offering financial products making it favorable for investment. He emphasized that investing in The Gambia would bring knowledge and financial resources into the country.
Finance Minister Seedy Keita remarked that this visit demonstrates international confidence in The Gambian economy.
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