CFC invests in Meridia to bring greater transparency to supply chains
The CFC is investing EUR 300,000 in field-data solutions provider Meridia, amplifying its ability to drive transparency in food supply chains and ensure the equitable treatment of smallholder farmers.
Meridia specialises in collecting, analysing and verifying high-quality data in smallholder supply chains. The company offers a number of products that benefit both large food businesses and the farmers they source from.
For companies to comply with strengthening EU regulations on deforestation, Meridia verifies the field data quality of the supply chain to segregate compliant and noncompliant datasets.
Compliance relies on rigorous field data, which is difficult to achieve. Meridia's field-data collection solutions provide trusted data and digital maps tailored to their partners' individual needs and infrastructure.
For smallholders, the data also provides value in numerous ways. This includes clear land parcel boundaries that lower the risk of conflict within communities, greater insights into productivity and a deeper understanding of their business, leading to more accurate yield forecasting. The benefits of Meridia's land titling work also enables farmers to access finance more easily and secure inheritance for their next of kin.
Alongside the investment, which will provide the working capital to expand Meridia's impact, the CFC will share its extensive experience working with smallholder farmers in developing countries.
Hector Besong, CFC Risk and Portfolio Manager, said: "Technology has huge potential to enhance the lives of smallholder farmers and is becoming critical to large food brands that must prove their supply chains are living up to their environmental, social and governance claims. Meridia's ability to gather and analyse robust and reliable data has a key role to play in creating global food systems in which smallholders can thrive and net zero can be achieved."
Judith Rosenbrand, Head of Finance and Operations at Meridia, added: "With support from the CFC, Meridia can mitigate the financial volatility and risks inherent to the emerging markets in which we work and continue focusing on steady growth and impact for smallholder farmers. We look forward to leveraging our mutual expertise and network with agribusinesses and smallholder farmers."
Meridia and the CFC are both based in Amsterdam, where the agreement was signed recently by CFC Managing Director Amb. Mohammed Belal and Meridia Chief Executive Thomas Vaassen.
