Botswana wishes to see more CFC’s investments
27 May 2024, Amsterdam. H.E. Ms Mmasekgoa Masire-Mwamba, Governor of CFC for Botswana/Ambassador of the Republic of Botswana in Brussels paid a visit to the Secretariat of the Common Fund for Commodities (CFC). Mr. Nicolaus Cromme, Chief Operations Officer of the CFC received Ambassador Masire-Mwamba. Mr. Andrey Kuleshov, Chief of Strategy and Development of the CFC also join the meeting virtually.
After exchange of pleasantries, Mr. Cromme provided Ambassador Masire-Mwamba with an overview of the current and potential future initiatives of the CFC. He also underscored the significance of capacity-building initiatives beyond the conventional scope of the CFC's projects, drawing lessons from the covid pandemic. Mr. Cromme highlighted the growing demand for CFC investments, which is outpacing the available financing resources. He emphasized the need for greater support of the member states to meet the heightened demand.
Furthermore, Mr. Cromme discussed the introduction of the Agricultural Commodity Transformation (ACT) Fund, at the LDC5 Conference in Doha. He shared the CFC's roadmap for poverty alleviation in the Least Developed Countries (LDCs), Land Locked Developed Countries (LLDCs), and beyond. Member countries were encouraged to join the ACT Fund as anchor investors and promote it to the private sector.
Ambassador Masire-Mwamba thanked to receive her with a very short notice. She emphasized Botswana’s significant agricultural potential and highlighted the opportunity for substantial growth. She expressed the desire for increased CFC investment in Botswana to support smallholders, enabling them to raise their incomes and alleviate poverty. Ambassador Masire-Mwamba appreciated the CFC's efforts in addressing the challenges faced by smallholders and SMEs (small and medium enterprises), acknowledging its role in mainstreaming their concerns.
Mr. Cromme encouraged Ambassador Masire-Mwamba to disseminate relevant information on CFC’s Call for proposals so that qualified SMEs/enterprises, both within and outside Botswana, could submit high-quality projects for consideration by the CFC's Executive Board.
The meeting concluded with mutual assurances of support and a commitment to follow up on necessary actions in the coming days.