Public Management

Burkina Faso Boosts Funding for National Food Security Management

Burkina Faso Boosts Funding for National Food Security Management
Thursday, 04 July 2024 17:05

In Burkina Faso, where insecurity heightens the risk of food scarcity, the government has decided to bolster one of its key food stock management structures. The government has approved increasing the capital of the National Food Security Stock Management Company (SONAGESS) to CFA1 billion ($1.6 million), five times its initial capital of $329,250. This announcement was made during the Council of Ministers meeting on July 3.

“The adoption of this decree aims to better address current challenges regarding market access for producers and food security management,” the government statement said.

Over 2.5 million people in the country, or 11% of the population, face a "crisis" level of food insecurity, according to the latest projections from the Harmonized Framework. Additionally, more than 260,000 people are experiencing "emergency" levels of food insecurity.

SONAGESS, a public institution established in 1994, manages the National Food Security Stock (SNS), which includes millet, maize, and sorghum, staples of the local diet. Among its other social and economic missions are managing the Intervention Stock (SI), the Commercial Regulation Stock (SCR), food aid management, supplying deficit areas, and collecting, processing, and disseminating agricultural market information.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Angola, Gemcorp launch $500M Africa infrastructure fund based in Abu Dhabi Fund targets energy, minerals, food, water; FSDEA, Gemcorp...
FCFA appreciated against the dollar, yuan, pound, and euro Price competitiveness fell as the real effective exchange rate rose 1.2 % Inflation...
The Central Bank of Nigeria issued 82 final currency exchanges offices licences after revoking more than 4,000 non-compliant ones in 2024. The...
Egypt’s NBE secures $100M EBRD loan to boost MSME financing Funds target youth- and women-led businesses to support private sector growth EBRD...
Most Read
01

Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...

Cameroon: State Owned Telecommunication Company To Enter Mobile Money Market
02

Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...

AfDB Re-engages Eritrea With Strategy Focused on Infrastructure, Climate Resilience and Regional Integration
03

Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...

Malawi: New $100M Cement Plant Targets Forex Crisis but Faces Energy Reality
04

Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...

Nigeria Pursues Boeing, Cranfield Partnership to Establish Aircraft Maintenance Center
05

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.