Chairperson of the CFC’s Governing Council for 2023 visits the CFC for consultations
H.E. Dr. Eniola Olaitan Ajayi, Ambassador of the Federal Republic of Nigeria to the Kingdom of the Netherland, is seen with Managing Director Ambassador Sheikh Mohammed Belal at the Secretariat of the CFC. H.E. Dr. Ajayi came to visit CFC in her new capacity as elected Chairperson of the CFC’s Governing Council for 2023.
Ambassador Ajayi was accompanied by Mr. Bello Kadir, Second Secretary at the Embassy. Ambassador Belal was accompanied by Mr. Andrey Kuleshov, Chief of Strategy and Development.
During the discussion, following an introductory presentation on CFC, Ambassador Belal briefed Ambassador Ajayi on the current as well as probable future initiatives of the CFC. Ambassador Belal requested Ambassador Ajayi to help CFC with their success stories and thereby help CFC to improve the format and character of CFC projects.
Ambassador Belal also briefed Ambassador Ajayi on the ongoing initiative on the formulation of a fund entitled Agricultural Commodity Transformation (ACT) Fund (formerly referred to as CIIF (Commodity Impact Investment Facility) and thereby enabling CFC to contribute more for alleviation of poverty. Once formed, ACT could also be an avenue for member countries to join this impact investment fund as anchor investors. Member states are encouraged to share information on ACT with private sector parties in their country and encourage them to participate in this journey of sustainability.
The meeting also touched upon issues of renewed cooperation with other financial institutions, e.g. OFID, African Development Bank, as well as closer connection with member states in general.
Ambassador Belal, taking cue from COVID-19 lessons and war in Ukraine, highlighted the importance of developing resilience to absorb the external shock within the limit of tolerance. Ambassador Ajayi advised CFC to explore collaborations as well as new sponsors to implement the innovative plans that CFC would like to articulate in its commodity value chains.
The Chairperson was unequivocal in her support for what she termed as “innovative work” of the CFC and urged that smallholders and SMEs should count on CFC’s delivery of much improved and strengthened commodity value chains. Ambassador Ajayi assured her total support to steer the courses of CFC in a way so that both the world of developing and the developed could be brought closer together and thereby connect the conscious consumers of today with the hardworking producers so that they can get their rightful dues.
Thanking the Chairperson for her passionate support for the CFC, Ambassador Belal reassured that CFC is exploring both technological as well as ecosystem connectivity to connect conscious consumers of today and tomorrow with the producers, the smallholders, so that their plight is duly priced and dignity restored with appreciation for their hard work through a humanized economic system. Ambassador Belal sought help from member states to connect CFC with the organization’s they deem relevant in this new venture.
Before taking leave, Ambassador Ajayi, while thanking for CFC’s sharpened focus on Africa, advised CFC to speak for all the smallholders and SMEs as they scale up on their quality work globally. If we wish to keep our dream for a sustainable world, organisations like CFC should be supported because they connect the periphery with the core, she added.
Ambassador Belal assured to pursue more innovative outreaches in the days to come to make the services of CFC available to as many people as possible in the commodity dependent developing world, with a heightened sense of innovations and creativity.