Kenya strongly supports the “humanizing value chain” initiative of CFC
23 October 2024, Amsterdam. H.E. Hon. Halima Yussuf Mucheke, the newly accredited Ambassador of Kenya to The Netherlands, accompanied by Mr. Micheni Muriithi, Counselor Political at the Embassy, visited the CFC headquarters to have a meeting with Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC).
After exchange of pleasantries, Ambassador Belal provided Ambassador Mucheke with an overview of the current and potential future initiatives of the CFC. In light of the present global challenges, Ambassador Belal emphasized the importance of fostering stronger working relationships and partnerships with member countries so that we can bridge the gap between the Global South and the North.
Ambassador Sheikh Mohammed Belal emphasized the urgency of increasing income for smallholder communities in the commodity sector, highlighting the deep poverty in which they are often trapped. Despite their hard work in producing essential commodities, particularly in the Global South, these smallholders receive disproportionately low prices at the farmgate compared to the prices paid by final consumers. Ambassador Belal called for Kenya’s support in helping the Common Fund for Commodities (CFC) to "humanize the value chains," aiming to ensure fairer distribution of wealth and equity across the entire supply chain. His focus is on transforming these global value chains to prioritize the well-being of the producers at the base.
Furthermore, Ambassador Belal 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 Mucheke appreciated, in her words, trend setting good works of CFC and reassured the support of Kenya towards making CFC an organization of excellence. Ambassador Hon. Halima categorically referred to the humanizing value chain initiative of the CFC and reassured their total support for the initiative. She expressed the desire for increased CFC investment in Kenya to support smallholders, enabling them to raise their incomes and alleviate poverty.
Ambassador Belal encouraged Ambassador Mucheke to disseminate relevant information on the CFC’s call for proposals so that qualified SMEs/enterprises 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.