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WFP engagement with “structured trading systems”
Engagement with “structured trading
systems” is one of the four P4P ap-
proaches being tested to reach small-
h o l d e r f a r m e r s w i t h W F P ’ s
procurement footprint. The four
approaches are:
1. Buying directly from Farmers’
Organizations (FOs) receiving supply
side support on production and
marketing: 64% of the 150,000mt
contracted under P4P by end 2010 was
procured directly from FOs [in all pilot
countries except Zambia].
2. Engaging with emerging structured trading systems including Commodity Exchanges
(CEX) and Warehouse Receipt Systems (WRS): 27% was purchased through CEX and
WRS by end 2010 [Ethiopia, Malawi, Tanzania, Uganda and Zambia].
3. Buying through small and medium traders and agents to enhance competitiveness
and provide alternative markets for farmers’ surpluses: 8% was purchased from traders
and agents by end 2010 [Kenya and Mozambique]; and
4. Developing local food processing capacity by connecting FOs to established food
processors and buying processed foods including Corn Soya Blend, fortified maize meal
and high energy biscuits [Afghanistan, Ethiopia, Guatemala, Mozambique and Zambia].
The type of approach or “entry point” depends on the country context. Where structured
trading systems exist, WFP may play a key role in catalyzing partner and government
investment, by channelling a portion of its local purchase through these systems; by assist-
ing to rehabilitate or equip warehouses; and by providing training to facilitate FOs to en-
gage with these systems.
ISSUE 7
PURCHASE FOR PROGRESS
STRUCTURED TRADING SYSTEMS
MARCH UPDATE
ISSUE 30
MARCH 2011
P4P Pilot Countries
AFRICA
HIGHLIGHTS OF THE MONTH
Ghana Country Implementation Plan (CIP) approved by WFP Executive Director on
March 29.
WFP participated in the ACTESA Development Partners’ Meeting on March 16 and
ACTESA Advisory Committee Meeting on March 17 in Lusaka, Zambia. Discussion
focused on ACTESA’s draft Ten-Year Strategic Plan (2011-2020).
P4P staff participated in the School Feeding Consultation held in WFP Rome on
March 1-4. Opportunities and challenges to link P4P to Home Grown School Feeding
programmes were discussed.
WFP and the Rwanda Ministry of Agriculture organized a commodity trade fair
for smallholder farmers in Kigali on 22 March. Firm agreements were reached for sale of
5,000 metric tons (mt) by farmers’ cooperatives. The Government of Rwanda plans to
purchase 40% of the requirement for the national strategic grain reserve from small-
holder farmers' cooperatives in 2011, and is looking to WFP for technical capacity
building.
This newsletter focuses on “structured trading systems”, specifically Warehouse
Receipt Systems and Commodity Exchanges.
CENTRAL AMERICA
ASIA
IMPLEMENTATION STATUS
21 P4P Pilots:
21 Country Assessments
Missions.
20 Approved Country
Implementation Plans
(CIP): Afghanistan, DRC,
El Salvador, Ethiopia,
Honduras, Ghana,
Guatemala, Kenya,
Nicaragua, Burkina Faso,
Liberia, Mali, Malawi,
Mozambique, Rwanda,
Sierra Leone, Sudan,
Tanzania, Uganda and
Zambia.
Laos: CIP under develop-
ment (still unfunded).
Traders & Agents
12,4068%
CEX & WRS39,981
27%
Farmers' Org. 95,031
64%
Processors1,089
1%
P4P entry points [tot. contracted Sept 2008-31 Dec 2010, mt]
Page 2 ISSUE 30
RENEWED ATTENTION TO “STRUCTURED TRADING SYSTEMS” IN AFRICA
The last few years have witnessed renewed attention to efforts to facilitating agricultural trade through a series of reforms,
with an emphasis on linking smallholder farmers to “structured” systems, including staple food crops.
Commodity exchanges (CEX) take a number of forms from country to country, but all strive to provide an open market
where buyers and sellers come together to discover a true market price, and where these trades are regulated by fair and
concrete arbitration mechanisms. The first and highest volume exchange, the Johannesburg Stock Exchange (whose
commodity trading arm is SAFEX), has set the pace for a recent boom in emerging CEX across Africa, from Ethiopia to
Zambia. In some instances these initiatives are driven by the private sector, in some by donors, and in other countries by
proactive government efforts.
A complementary structure to commodity exchanges is the warehouse receipt system (WRS), a network of licensed
certified warehousing facilities where commodities can be certified for both quantity and quality. Upon delivery of
commodities to a warehouse, the depositor receives a receipt certifying the quantity and quality of the deposited stocks,
which can be sold at a later date. The receipt, which is a “document of title”, can be exchanged, and serves as financial
collateral to access credit. For this to function effectively, the receipts must be widely recognized, and banks prepared to lend
against these.
In some cases, certified warehouses (usually large district level warehouses) are linked to community/village level depots
or sheds, where farmers can deposit their commodities (even in very small lots). For this model to work, improving
smallholder farmers’ bulking capacity at the community level through group marketing is key.
Together, these two broad systems comprise a structured trade system that can provide real benefits to participants. The
emergence of these structures is not identical in any two countries; some approaches have begun with CEX, while others have
started with WRS.
WHY WFP IS ENGAGING WITH
STRUCTURED TRADING SYSTEMS
WFP engagement is premised on the
expect a t i on th a t , g i v en WFP’s
procurement footprint in countries where
CEX and WRS are under development
(Ethiopia, Malawi, Uganda and Zambia), WFP
engagement will attract more buyers and
sellers, building confidence in the system and
contributing to the increased turnover of
trade in staple commodities that is required to
make the system sustainable.
In addition, as a large quality buyer, WFP
can help address other challenges such as the
weak enforcement of quality standards.
In Africa, WFP/P4P looks for ways to link
smallholder farmers to these structured platforms
in sustainable ways, while at the same time
providing a demand signal to the private sector
through purchases that these mechanisms stand to
benefit all market actors. The P4P pilot aims to
identify:
whether such engagement holds promise and
should be continued after the pilot phase;
whether smallholder farmers are benefitting;
and
what external conditions are required to
make these systems sustainable beyond WFP.
Expected benefits
For the farmers/sellers: increased transparency in weighing of
commodities; secure storage facilities that improve quality and
add value; possibility to sell at a later date (and hence receive a
better price); access to credit through the receipt; reduced
transaction costs; reduced price volatility; more direct access to
different national and regional markets, thus transferring a larger
margin back to the farmer.
For buyers (private sector, WFP or Government): assured
quantity and quality (from the WRS), thus reducing the risk of
purchasing directly from small-scale farmers; assured delivery
duration; increased transparency and competition (when buying
through exchanges) and fair market prices.
At macro-level: enhanced market efficiency from reduced length
of the marketing chain; improved market information and trans-
mission; reduced post-harvest losses (from WRS); more
transparent trade; efficient price discovery mechanism; and re-
duced price volatility.
The challenges Structured trading systems in Africa have to date had limited traction
marketing staple crops, due to:
Government price setting in staple food markets which, in
part contributes to lack of buy-in from private operators and
banks.
Low turnover (for staples), which does not always cover
running costs, raising concerns about sustainability and
dependence on external (donor) funding. The turnover will need
to increase substantially for these systems to generate reliable
profits, attract private sector buyers, and reduce dependency on
external funding.
Weak legal and policy frameworks.
Elite capture by larger traders and problems of traceability of
benefits for smallholder farmers (when purchasing through
exchanges).
Page 3 ISSUE 30
Ethiopia ECX
Established 2008.
Government owned and
governed by a private-public
Board of Directors.
Focused on coffee (78% of all
trades) and sesame (17%).
as of 2010 extended to maize
and peas, spurred by WFP’s
engagement.
First WFP purchase in June
2010, following the signature
of an MoU with the ECX.
The Ethiopian Grain Trade
Enterprise (EGTE) contracted
as Intermediary Member to
represent WFP on the trading
floor.
By end 2010: over 5,000mt
of maize procured through
ECX.
WFP share is limited,
though it represents almost all
trade of maize)
WRS: currently establishing
“primary markets”. Plan is to
create 100,000 “primary
markets” or “collection
Malawi ACE
Established 2005.
NGO status, not for profit enterprise.
First WFP purchase February 2010.
By Dec 2010: WFP contracted 10,558mt of
maize, maize-meal, pulses and CSB through
ACE (for WFP Malawi operations).
As of 2011: WFP started regional purchases
through ACE (Zimbabwe, Mozambique,
Lesotho), giving ACE users access to larger
markets and to the WFP regional market.
WFP share is substantial: in 2010, WFP
BVOs represented 45% of all trade on ACE.
Trade commission: 0.05% increased to 0.2%
in 2011 on all BVO contracts.
So far, a few P4P FOs won bids through ACE
for WFP contracts e.g. (Mwandama Grain Bank,
a P4P and MVP supported FO, won a contract
for 105mt of maize). Other non P4P supported
FOs have also won bids through ACE.
WRS under development and will be rolled out
in 2011, with funding from the EU and the
Common Fund for Commodities (CFC), with
different arrangements for urban and rural
areas:
Urban: ACE agreed with a number of small
scale farmers to deposit 5,000mt, and with
2 large traders to deposit 20,000mt of
maize in Farmers World silos. Farmers
World will issue receipts and Opportunity
Bank will provide financing against these
receipts. NASFAM plans to do a similar
exercise with their members using the
National Food Reserve Agency silos.
Rural: CFC/EU will upgrade several rural
aggregation sites supported by NASFAM,
World Vision and the USAID/MLI initiative.
NASFAM will issue receipts.
Zambia ZAMACE
Established 2007.
Private limited liability company.
First WFP purchase end 2008.
By end 2010: WFP contracted
18,723mt of maize, pulses and
maize meal through ZAMACE (for
both WFP Zambia and regional
operations in Zimbabwe and
DRC).
So far, mainly larger traders
have won bids for WFP contracts.
Difficult to trace origin.
WFP’s share is limited: 10% of
all trades since ZAMACE launch
in 2007.
WRS (private sector operated
district warehouses certified by
ZAMACE and Community Sheds)
under development. Started in
2009 and rolled out in 2010 in 3
regions with the support of WFP
and USAID/COMPETE.
311mt of maize bought from
2 district certified ware-
houses in Lundazi and Chama
districts in July 2010.
HOW WFP IS ENGAGING :
By channeling a portion of local purchases (and, more recently, some regional purchases) through these systems;
By supporting the development of a network of warehouses to be linked to the CEX, investing in building or
rehabilitating warehouses (Uganda) as well as village level depots/collection points (Tanzania, Uganda, Zambia), and
equipping such warehouses or collection points with cleaning and drying equipment on a cost-sharing basis with the pri-
vate sector.
By supporting capacity building for targeted FOs to meet quality requirements necessary to access certified
warehouses and helping to link FOs to these systems (Ethiopia, Malawi, Tanzania, Uganda, Zambia);
By engaging in policy dialogue with governments and regional bodies such as COMESA and ACTESA and advocating
for the reduction of government intervention in staple food markets, as well as harmonization of regional quality stan-
dards and grading systems; all necessary ingredients to improve the policy environment if these systems are to thrive in
the future.
HOW IS WFP BUYING FROM COMMODITY EXCHANGES
WFP procurement procedures have been adapted to allow for purchases through the Zambian Commodity Exchange
(ZAMACE); the Agricultural Commodity Exchange for Africa (ACE) and the Ethiopian Commodity Exchange (ECX).
Authorizing WFP to appoint a broker to trade on the Exchange on its behalf, against a commission (Ethiopia and Zam-
bia), or have the Exchange act as a broker (Malawi).
Adopting a “Reverse auction” consisting of a “Bid Volume Only” (BVO), where WFP expresses a desire to buy a
specified amount of a commodity of a specified grade at a specified delivery location, but without specifying price, and
suppliers compete on price in an open trading session.
WFP Headquarters pre-authorizing a purchase based on a ceiling price proposed by the Country Office prior to float-
ing the BVO.
Page 4 ISSUE 30
WFP’s EXPERIENCE OF BUYING THROUGH WAREHOUSE RECEIPT SYSTEMS
The Uganda Model The strengthening of the warehouse receipt system (WRS) is at the centre
of WFP’s contribution towards structured trade in Uganda.
WFP Uganda is supporting the development of the WRS by:
1. Channelling a share of its purchases through the WRS.
WFP procured almost 5,000mt of maize through the WRS between
late 2008 and December 2010. WFP is making it a priority to pur-
chase commodities deposited in licensed warehouses, if depositors
agree to sell at the prevailing market prices.
This has encouraged others to buy through the WRS. Over 4,500mt
of maize have so far been purchased by local traders, as well as by
traders from Southern Sudan, Kenya and Rwanda through the four
operational licensed warehouses (Agroways in Jinja, Masiga in
Masindi and Nyakatonzi Cooperative Union and El Shaday warehouse in Kasese district). There is an increased interest
from traders, breweries and schools to buy grain through the WRS.
WFP’s support to the WRS resulted in increased deposits in the four operational licensed warehouses. Farmers in the
Busoga and Misindi sub-regions were able to access up to US$ 500,000 of agricultural credit from the Housing and
Finance Bank using their receipts as collateral.
2. Constructing/rehabilitating nine Central Market Collection Points (1,000 to 6,000mt storage capacity each), to be
licensed by the Uganda Commodity Exchange (UCE) to operate a WRS; 58 satellite collection points (100 to 300mt
storage capacity) to feed into the large warehouses; and 230 km of feeder roads to connect farming communities to
markets. Of all planned market infrastructure activities, 50% are completed.
3. Equipping the warehouses with processing equipment (cleaning, drying, bagging and grading) to help them meet WRS
licensing requirements (on a cost-sharing basis with private sector operators).
4. Equipping satellite collection points with basic post-harvest handling equipment and providing training to FOs to
enhance productivity, and assist farmers to meet quality standards and reduce losses.
WFP Uganda is working with the private sector to expand and strengthen the WRS and build the business skills of
smallholder farmers and small and medium scale traders.
The Tanzania model
The term WRS is used interchangeably to describe two distinct
models in Tanzania:
The regulated system, established by the WRS Act and
which the Government wishes to see implemented;
The village hybrid model being rolled out by financial
institutions and federations of Savings & Credit Cooperatives
(SACCOs).
The regulated system requires considerable investment and
therefore a large turnover to be sustainable. Previous attempts to
establish a formal WRS have produced mixed results, partly due
to the Government’s requirement of having a professional
collateral manager, which is unaffordable for most farmers’
groups. In addition, under the WRS Act, SACCOs are a financial entity
not legally allowed to market commodities. This latter function
should be undertaken by AMCOs (Marketing Cooperatives).
Given that SACCOs are the only functional structures, a hybrid
system has been developing between SACCOs and financial
institutions, which hire local warehouse operators. WFP is working with financial institutions and SACCOs to
support this hybrid WRS. Financial institutions wish to see WFP
play a role as warehouse/collateral manager, but this is not
possible given WFP’s legal status. By the beginning of 2011, WFP
had purchased 1,478mt through the Tanzania WRS.
FURTHER READING
Overview of WRS in East Africa: www.nri.org/projects/
wrs/index.htm.
S. Rashid, A. Winter-Nelson, P. Garcia: “Purpose and
Potential for Commodity Exchanges in African Econo-mies”, IFPRI Discussion Paper 01035, Nov 2010 [http://
www.reliefweb.int/rw/lib.nsf/db900sid/EGUA-
8CCNAV/$file/ifpri-commodity-exchanges-in-african-
economies-nov2010.pdf?openelement]
J. Coulter: “Review of Warehouse Receipt System and
Inventory Credit Initiatives in Eastern & Southern Africa”,
Report commissioned by UNCTAD under the All ACP
Agricultural Commodities Programme (AAACP), Sep-
tember 2009 [http://www.unctad.info/upload/SUC/
LusakaWorkshop/Coulter_WarehouseReceipt.PDF]
USAID Seminar on WRS, 2010: http://kdid.org/sites/
kdid/files/media/articulate/agsector_101110/player.html
The history of BVOs at www.bidvolumeonly.org
Ethiopia Commodity Exchange: www.ecx.com.et
Malawi Commodity Exchange: www.aceafrica.org;
www.ideaamis.com;
Uganda Commodity Exchange: www.uce.co.ug;
Zambian Commodity Exchange: www.zamace.com;
The Agroways Warehouse in Jinja
A FO CHAIRMAN SPEAKS ABOUT HOW HE SEES THE WAREHOUSE RECEIPT SYSTEM IN UGANDA
Sosimu Twesiga, Chairman of Farm Uganda, a P4P-supported
Farmers’ Organization founded in 2008 to promote bulking and
group marketing, shares his view of how his group came to know
of the WRS, and what have been the benefits and challenges of
using the system for his fellow farmers.
“We first learnt of the Uganda Commodity Exchange (UCE) and the
Warehouse Receipt System (WRS) in 2009 during the search for
markets for our bulked maize grain. We had taken our maize grain to
Agroways (a private grain trader), hoping that this private grain dealer
would automatically buy it. Instead, we were advised to deposit it and
register our association as depositors. Members were excited because
we had a serious problem of inadequate storage space. We never had
a chance to sell to big buyers and final consumers who could offer
better prices without middle men”.
Sosimu speaks of the benefits of selling through the WRS...
“Ever since we registered as depositors at Agroways, our members have been able to sell to other markets apart from WFP. For
example, just recently, we sold our maize to Export Trading Company which offered a good price to our members. In addition, we were
able to access credit using the Warehouse Receipt financing through Housing Finance Bank, despite the interest rates being high
(22%). WFP purchased our maize at UGX500 per kg, while other farmers were selling at UGX200 per kg at farm gate for
unprocessed/ungraded grain. The system has a lot of benefits. It has eliminated the old system were a trader would carry a sack of
money to villages looking for commodities and problems of middle men who cheat both farmers and traders”.
… and of the challenges
“First, our farmers still lack adequate training on post-harvest handling (PHH) and some basic equipment. If the two are provided, it
would help reduce costs incurred at the warehouse when the grain is delivered there. Second, credit access through the Warehouse
receipt financing comes with high interest rates. For example, the 22% per annum charged by Housing Finance Bank is too high for
an average smallholder farmer. This discourages depositors from accessing credit and limits their capacity to expand the acreage under
cultivation. There is also a problem of unreliable market opportunities even with use of the WRS. For example, although WFP is
one of the key buyers, it does not normally respond every time farmers wish to sell their commodities. Thus, sometimes, the grain spends
a long time in the warehouse which in turn increases storage costs paid by farmers.
Sometimes, the process one goes through before selling to WFP is long and tedious. First, Agroways calls depositors for a price
negotiation at Jinja three or four times before the two parties agree on the selling price. Occasionally, farmers have disagreed with WFP
on the purchase price, thinking WFP is offering low prices, only to discover later that it was actually the best one would get in the
market. With increased capacity building on market information, our members are confident that the situation will improve”.
Page 5 ISSUE 30
Concluding remarks
The role of WFP’s procurement as a “catalyst” for partners and Government investment in these systems has been
highlighted in numerous fora, including ACTESA Stakeholders’ meetings and the Maputo P4P Annual Review meeting in
December 2010.
Ethiopia, Malawi and Zambia have operational Commodity Exchanges through which WFP is already buying for both its na-
tional and regional programmes and all plan to develop Warehouse Receipt Systems. WFP Uganda has purchased through the
WRS, and plans to purchase through the Uganda Commodity Exchange in 2011. Kenya, Ghana, Rwanda and other countries
are exploring options to establish Warehouse Receipt Systems, and are looking to WFP to support these systems.
Establishing a Commodity Exchange is not a quick fix to agricultural marketing, but rather requires a complex set of factors to
converge to create the environment. A successful Exchange requires buy-in from all stakeholders (Governments, FOs, private
sector and financial institutions), and a limited intervention by Governments in markets. This remains a challenge in Africa,
however, if it can be made to work, it has huge potential to catalyse the development of the agricultural sector for farmers
and bring liquidity to the market.
The P4P pilot aims to determine whether WFP engagement with these systems holds promise and should be continued after
the pilot phase, and what external conditions are required to make this work for the benefit of smallholder farmers.
Copyright: WFP/Marco Frattini
RESOURCING UPDATE
Food costs for P4P purchases are included in regular projects (EMOPs, PRROs or CPs), but instability of WFP’s funding for
regular operations and limited availability of long-term funding may hamper the strategic use of WFP procurement in some
countries.
Funding for Capacity building and operational costs for P4P implementation, including sub-grants to partners are required for:
Laos for five years (approximately US$6.5 million).
Sierra Leone (US$3 million) and Liberia (US$ 3 million) to enable P4P to continue through 2013.
Honduras (US$2 million) and southern Sudan (US$2 million) to extend P4P through 2013.
Funds are also sought for the Data Analysis and Knowledge Management Hub (2012-2014) (US$3.2 million).
Page 6 ISSUE 30
P4P Country Coordinators/Focal Points
Asia Afghanistan: Stephane Meaux <[email protected]>
Laos: Sengpaseuth <[email protected]>
Regional Bureau Focal Point: Francois Buratto
Eastern, Southern & Central Africa Democratic Republic of Congo: Melanie Jacq <[email protected]>
Ethiopia: Enrico Pausilli <[email protected]>
Kenya: Martin Kabaluapa <[email protected]>
Malawi: Tobias Flaemig <[email protected]>
Mozambique: Billy Mwiinga <[email protected]>
Rwanda: Emmanuela Mashayo <[email protected]>
Sudan: Marc Sauveur <[email protected]>
Tanzania: Dominique Leclercq <[email protected]>
Uganda: Elvis Odeke <[email protected]>
Zambia: Felix Edwards <[email protected]>
Regional Bureau Focal Point: Simon Denhere
<[email protected]> WFP’s secondee to ACTESA: Simon Dradri <[email protected]>
West Africa Burkina Faso: Veronique Sainte-Luce <[email protected]>
Ghana: Hassan Abdelrazig <[email protected]>
Liberia: Lansana Wonneh <[email protected]>
Mali: Isabelle Mballa <[email protected]>
Sierra Leone: Miyuki Yamashita <[email protected]>
Regional Bureau Focal Point: Jean-Martin Bauer
Latin American & Caribbean El Salvador: Hebert Lopez <[email protected]>
Guatemala: Sheryl Schneider <[email protected]>
Honduras: Nacer Benalleg <[email protected]>
Nicaragua: Francisco Alvarado <[email protected]>
Regional Bureau Focal Point: Laura Melo <[email protected]>
KEY P4P CONTACTS IN ROME
P4P COORDINATION UNIT
Ken Davies, P4P Coordinator: [email protected]
Sarah Longford, Snr Programme Adviser, Partnerships:
Mary-Ellen McGroarty, Snr Programme Adviser for Ethiopia,
Kenya, Laos, Malawi, Mozambique, Rwanda, Tanzania, Uganda &
Zambia: [email protected]
Jorge Fanlo, Snr Programme Adviser for Afghanistan, Burkina
Faso, DRC, Ghana, Liberia, Mali, Sierra Leone & Sudan:
Clare Mbizule: Snr Programme Adviser, M&E:
Alessia De Caterina, Reports Officer:
Blake Audsley, Market Analyst: [email protected]
Tobias Bauer, Communications Officer:
Helen Kamau-Waweru, Finance Officer:
Ester Rapuano, Snr Finance Assistant.:
Amanda Crossland, Snr Staff Assistant to P4P Coordinator:
Kathryn Bell-Greco, Admin. Assistant:
Alessia Rossi, Staff Assistant: [email protected]
PROCUREMENT DIVISION
Bertrand Salvignol: Food Technologist:
Van Hoan Nguyen: Food Technologist:
Jeffrey Marzilli: P4P liaison: [email protected]
Laila Ahadi: Procurement Officer: [email protected]
The update is published by the P4P Coordination Unit in Rome, Italy. Contact us at [email protected]
External: www.wfp.org/p4p Internal: http://go.wfp.org/web/purchaseforprogress
CALENDAR
7 March- 9 May: ODI Mid-Term Evaluation Missions: Uganda (7-22 March); El Salvador (30 March-12 April); Liberia (4-15
April); Zambia (4-18 April); Kenya (11-21 April); Mali (11-21 April); Guatemala (27 April- 09 May).
20 March- 27 May: IDS Gender missions: Ethiopia (20-31 March); Burkina Faso (4-15 April) and Guatemala (16-27 May).
28 March- 8 April: Rwanda Study Tour to Uganda and Ethiopia to learn from the Warehouse Receipt System in Uganda
and from the Commodity Exchange in Ethiopia.
4-8 April: Africa Agricultural Markets Programme (AAMP) seminar and training workshop on smallholder
commercialization, Kigali, Rwanda.
19-20 April: P4P Seminar: Peer review of the technical aspects of the P4P M&E system, Washington, DC USA.
3-7 May: Global Child Nutrition Forum: “Scaling Up Sustainability: Linking School Feeding with Agriculture Development to
Maximize Food Security”, Nairobi, Kenya.
11 May: Seminar organized by the Swiss Agency for Development and Cooperation (SDC) on “Employment and Income in
Fragile Contexts: Private sector’s crucial role for effective development—exploring new perspectives”, Bern, Switzerland.