“We inherited an institution in a dire situation with wrongful termination costs from the former government. That money could have been used to recapitalise the Corporation.” The President told the NFSPMC.
President Barrow praised NFSPMC for their harmonious collaboration with farmers, in line with his government’s vision. He assured of support and suggested exploring innovative funding channels. “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 is committed to supporting 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 the support of the government, had heavily subsidized fertilizer for farmers, provided seeds, and engaged in commodity markets 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 to the government to intervene and establish modern cooperatives. Those cooperatives would allow farmers to have a voice and work with experts to ensure good governance and accountability.
The Managing Director, Muhammed Njie, reported on the progress made in reforming the Corporation and enhancing its governance and operations. He mentioned that they had completed the backlog of outstanding audits and had submitted their report to the SOE Commission. Additionally, he stated that the processing plant has advanced and they are exploring alternative energy sources and digitalisation.
The Agriculture Minister, Dr. Demba Sabally, assured NFSPMC that the government is committed to supporting it. He also revealed that the Cabinet has approved a Cooperative Policy that would guide the reforms.
In another engagement at the State House, President Barrow welcomed delegates from the African Guarantee and Economic Cooperation Fund (FAGACE). The Managing Director of the institution, Mr. Ngueto Tiraina YAMBAYE, expressed interest in The Gambia's membership in FAGACE.
Mr Tiraina stated that FAGACE sees The Gambia as a new destination for investment. They aim to partner with The Gambia's development agenda by offering a new set of financial products that will make The Gambia a more favourable investment destination. He emphasised that the institution's interest in investing in The Gambia will bring knowledge and financial resources to 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.
Source: State House
