Bobo-Dioulasso: D©sir© Sawadogo, Deputy General Manager of NAFASO, expressed support for the Burkinabe authorities' initiative, stating that the establishment of the DUMU KAFA fund is turning food self-sufficiency from a slogan into a tangible goal.
According to Burkina Information Agency, Mr. Sawadogo highlighted during a press tour that this fund acts as a crucial support for the agricultural sector, offering significant financial backing that has allowed NAFASO to enhance its rice production capabilities. The fund provided NAFASO with a government grant of 93 million FCFA and input funding of 256 million FCFA, totaling 350 million FCFA, which has led to a doubling of its rice output and benefitted around 2,000 producers with quality inputs.
NAFASO, through its network of seed and rice producers, has been able to secure credit at a favorable interest rate of 5%, which is considerably lower than national market rates. This financial aid has not only boosted the company's profitability but also secured a reliable market through SONAGESS, promoting local products over imports.
An employee of NAFASO shared the personal impact of this position, noting the ability to support his family, provide education for his children, and cover medical expenses. Meanwhile, customer Salimata Sohor© praised the quality of local rice, emphasizing its freshness and superior taste compared to imported or old-stock rice, and encouraged continued support for local production.
The DUMU KAFA fund, established in February 2024 by the Burkinabe government, aims to meet the financial needs of those in the agro-pastoral and fisheries sectors, offering loans with interest rates of 5%. Eligible recipients include individuals, businesses, cooperatives, public institutions, and state-owned companies, with funding amounts ranging from 100,000 CFA francs to 500 million CFA francs. Several rural organizations have already benefited from this fund to enhance their operations.