We are happy to announce that we have received an investment of EUR 300,000 from the Common Fund for Commodities (CFC), which will enhance our ability to bring greater transparency to food supply chains. This investment will provide the working capital to expand our impact, enabling us to drive transparency in food supply chains and ensure equitable treatment of smallholder farmers. It also allows us to continue focusing on steady growth.
Hector Besong, CFC Risk and Portfolio Manager, stated that technology has enormous potential to enhance the lives of smallholder farmers and is becoming critical to large food brands that must prove their supply chains are living up to their environmental, social, and governance claims. He believes that Meridia's ability to gather and analyse robust and reliable data has a key role to play in creating global food systems where smallholders can thrive and net zero can be achieved.
Judith Rosenbrand, Head of Finance and Operations at Meridia, expressed her excitement about the investment, stating that with the support from the CFC, Meridia can mitigate the financial volatility and risks inherent to the emerging markets in which we work. The mutual expertise and network with agribusinesses and smallholder farmers will continue to be leveraged to create a better future for all.
The agreement was signed recently by CFC Managing Director Amb. Mohammed Belal and Meridia's CEO Thomas Vaassen in Amsterdam, where both the CFC and Meridia are based.
