The Board of Directors and the Management team of the National Food Security, Processing and Marketing Corporation -NFSPMC, formerly GGC briefed H.E. President Adama Barrow on the state of the corporation and its efforts to reform and revitalise it. President Barrow welcomed the team at the State House on Friday morning and thanked them for working hard to revive 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.” The President told the NFSPMC.
President Barrow commended NFSPMC for working cordially with farmers, which aligns 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 and commits to support value addition and sustainable food security policies and programmes.
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 the support of the government, had heavily subsidised fertiliser for farmers, provided seeds and engaged in commodity market to maintain fair prices of food commodities. He commended his colleagues for the reforms to create a corporation that meets the needs of farmers and consumers.Additionally, Chairman Touray appealed for government support and outlined their plans to enhance processing facilities, river transportation and modernising cooperatives in the country.
A board member, Chief Yaya Jarjusey appealed for the government’s intervention to have modern cooperatives where farmers can have a voice working with experts to established good governance and accountability.
The Managing Director Muhammed Njie reported the progress made in reforming the Corporation, enhancing its governance and operations. He briefed that they have completed the backlog of outstanding audits, and had submitted its report the SOE Commission. He added that its processing plant has advanced, exploring alternative energy sources and digitalisation.
The Agriculture Minister, Dr. Demba Sabally assured NFSPMC that government is committed to supporting it and revealed that Cabinet has approved a Cooperative Policy that would guide the reforms.
In another engagement at the State House, President Barrow received delegates of African Guarantee and Economic Cooperation Fund (FAGACE). The Managing Director of the institution, Mr. Ngueto Tiraina YAMBAYE expressed interest of The Gambia's membership in FAGACE.
Mr. Tiraina said FAGACE see The Gambia as the new destination for investment and they aim to partner with the development agenda of The Gambia by offering a new financial set of products that will make The Gambia a new favourable investment destination. He emphasised that the institution's interest of investing in The Gambia will bring knowledge and financial resources in the country
The Minister for Finance and Economic Affairs Honourable Seedy Keita said the visit is a demonstration of the confidence of the international community in The Gambian economy.
