Parliamentary Committee Praises NAFCO's GH¢76m Turnaround from Debt to Profit
Chairman Dr Godfred Seidu Jasaw commended NAFCO's financial rebound during a Kumasi visit, urging sustained efforts to secure Ghana's food future.
Parliament's Committee on Food, Agriculture and Cocoa Affairs has lauded the National Food Buffer Stock Company (NAFCO) for reversing a GH¢20 million debt into over GH¢96 million profit for 2025. Chairman Dr Godfred Seidu Jasaw witnessed this milestone during a working visit to NAFCO's Kumasi regional office, where he praised improved financial management and accountability practices. The turnaround reflects stronger stewardship of strategic food reserves critical to national food security, a mandate that directly impacts farmers' access to inputs and market stability. Dr Jasaw specifically highlighted NAFCO's progress in resource efficiency and responsiveness to player needs, urging continued vigilance in fiscal discipline. He emphasized the Committee's ongoing support for NAFCO's operations as essential to maintaining gains that protect consumers from supply shocks. This financial recovery strengthens Ghana's buffer against volatile markets and underpins long-term agricultural resilience across all regions.
NAFCO's success emerges amid persistent pressure on Ghana's food systems from climate shifts and global price fluctuations, making fiscal prudence vital for rural livelihoods. The company's role in stabilizing prices during lean seasons directly affects market vendors and household budgets nationwide, particularly in Ashanti Region hubs like Kumasi. Its improved performance signals renewed confidence in state-supported agricultural infrastructure, though Dr Jasaw cautioned against complacency as external risks remain. The Committee's endorsement reinforces institutional accountability in managing public resources tied to national stability, with oversight focused on preventing backsliding on transparency standards.
