National Food Buffer Stock to develop 5yr strategic plan to enhance productivity

November 10, 2021 By 0 Comments

The National Food Buffer Stock Company Limited (NAFCO) has put in place a 5-year Strategic Plan to scale up operational efficiency and also enhance its businesses to ensure all-round growth.

At a 3-day Board and Management retreat held last month at the behest of Henry Nana Boakye ESQ (Board Chairman) and Mr. Hanan Abdul-Wahab (CEO), the board had extensive engagement with experts and stakeholders to draft the much responsive and relevant five year Strategic Plan. It is expected that the 5 Year Strategic Plan will enable NAFCO to function well and more importantly perform its mandate in excellence.

NAFCO was incorporated under the Companies Code of Ghana, 1963, Act 179 on 11th March 2010. It is a limited liability company, wholly owned by the Government of Ghana with the mandate to guarantee an assured income to farmers by providing a minimum guaranteed price and ready market: to mop up excess produce from all farmers in order to reduce post-harvest losses resulting from spoilage due to poor storage, thereby protecting farm incomes.

NAFCO has since remained a delicate state establishment in promoting food security in Ghana. It will be recalled that in the wake of the COVID-19 pandemic and its attendant lockdown, NAFCO played a critical role in government’s provision of cooked and dry foods to hundreds of thousands of vulnerable Ghanaians.

Also, NAFCO has significantly contributed to the successful implementation of government’s flagship program, Free SHS, specifically, in the area of feeding of 1.2 million pupils daily. NAFCO also purchase, sell, preserve and distribute food stuffs produced in the country ostensibly to ensure stability in demand and supply.

Stakeholders present at the meeting were the Parliamentary Select Committee on Agriculture and Cocoa Affairs led by Hon. John Osei-Frimpong (MP for Abirem), Hon Emmanuel Anhwere and Hon Dr Seidu Jasaw; Hon. Joseph Cudjoe (Minister of Public Enterprise); Hon. Gifty Twum Ampofo (Deputy Minister of Education); Hon. Asamoah Boateng (CEO of State Interests and Governance Authority) and Mr Asante Krobea from the Ministry of Food and Agriculture.