SOWEDA Board salutes management for excellent 2023 budget execution.

Emerging from the meeting, the Board Chairperson of SOWEDA, Ediage Apande Herbet, said: “After examining the reports, we realised that management managed the resources correctly and the Board thinks management has done very well with the rate of execution, considering the insecurity that still defines some areas in the Region”.

The Board meeting was dedicated to the examination of the execution of the 2023 budget. Reports presented indicated that in 2023, SOWEDA mobilised financial resources worth over 2 billion FCFA. From the amount mobilised, officials said over 1.8 billion was spent, indicating an execution rate of 81%. 

In this light, the Board chairperson said besides the rate, the Board of Directors was happy with the quality of work the management of SOWEDA used the resources to execute in 2023.

However, despite the positive note, the Board Chairperson encouraged the management of the institution to seek for more partnerships and collaboration platforms to mobilise more resources.

Ediage said expanding the scope of SOWEDA’s partnerships will result in an increase in resources and help it overcome difficult situations, especially in the face of dwindling state subvention.

“Given that the coffers of the state are strained and SOWEDA can no longer receive the subvention it did, we recommend management to seek for partners and even collaborate with international partners with agro industrial projects. This will bring in projects into the Region, but also generate resources for SOWEDA to use to fulfil its mission,” Ediage stated.

This story first published in The Guardian Post issue No3130 of Monday June 02, 2024