The newly appointed Chief Executive Officer (CEO) of the National Food Buffer Stock Company (NAFCO), Mr George Abradu Otoo, has vowed to reposition the company to ensure consistent food availability and contribute to price stability in the domestic market.
This will be done through the implementation of existing and introduction of new initiatives to curb inflation.
Currently, the country’s 13 of the top 15 inflation-driving items are food-related.
NAFCO, a wholly government-owned entity, is tasked with purchasing surplus maize, rice, millet, beans, sorghum, and soybeans from farmers, preserving these staples, and distributing them to state institutions.
Speaking exclusively to the Ghana News Agency on the sidelines of a handover ceremony in Accra on Monday, February 3, Mr. Abradu-Otoo, an agricultural expert, outlined his vision for the company.
“Our focus is to fulfill our mandate by ensuring greater public access to foodstuffs, storing them for the lean season, and guaranteeing fair prices for farmers,” he said.
Despite advancements over the years, food insecurity remains a pressing issue in Ghana, with the World Food Programme (WFP) estimating that over one million people in the country are food insecure, while one million children under five are chronically malnourished.
Mr Abradu-Otoo reaffirmed his commitment to strengthening NAFCO’s operations by diligently working towards supporting the Government’s reset agenda through ensuring that food security was a tangible reality for all Ghanaians.
He acknowledged that while the company’s framework appeared solid on paper, a thorough review of its operations and financials was necessary to effectively reposition the buffer stock system.
Mr Abradu-Otoo commended the outgoing CEO and the NAFCO Board for laying a strong foundation and pledged to build on their achievements.
He expressed his intention to leverage the expertise of the outgoing CEO, the Board Chair, and all relevant stakeholders to enhance the company’s role in ensuring food security.
Mr Hanan Abdul-Wahab, the immediate past CEO, urged his successor to prioritise initiatives that would improve long-term storage infrastructure.
Addressing NAFCO staff, Mr Abdul-Wahab said, “This marks a new phase for NAFCO. Give your full support to the new leadership in the interest of Ghana.”
Reflecting on his nearly eight-year tenure, he stated that there had been expansion of licensed buying companies from 100 to 1,200 and the extension of operations to all 16 regions, up from the previous three regional centres in Ashanti, Brong Ahafo, and Northern regions.
Additionally, NAFCO’s storage capacity has grown to 100,000 metric tonnes, thanks to rehabilitation efforts and the One District-One Warehouse initiative.
The company also played a critical role in the implementation of the Free Senior High School (Free SHS) programme, supplying food items to over 700 secondary schools nationwide.
