Its budget has dropped from FCFA 2.3 billion in 2013 to FCFA 1.5 billion in 2014.
The performance of the South West Development Authority (SOWEDA) for the 2013 financial year and charting objectives for 2014, were the main objectives of the 29th Session of the Board of Directors meeting held in Buea on December 4, 2013. After brainstorming on the day’s agenda, the budgetary proposal that witnesses a downward swing was adopted from FCFA 2.312.435.992 in 2013 to FCFA 1.585.900.000 in 2014.
Addressing Board Members, Mbongo Molongo Noah, SOWEDA Board Chairman, implored the General Manager of SOWEDA to make good usage of the funds through activities that shall go a long way in transforming the socio-economic landscape of the region and improving the well being of the population.
Making a glance of achievements recorded in 2013, the Board Chairman revealed that the Minister of Agriculture and Rural Development exceptionally increased SOWEDA investment budget from FCFA 100 to FCFA 300 million. He hailed this gesture that has bolstered the achievements of SOWEDA “despite the acute insufficient financial resources allocated to it.” On another positive note, the Board Chair noted that at the end of the 2013 financial year, SOWEDA has received the entire 100% of its annual subsidies from government.
Concerning the Rumpi and the Livestock and Fisheries Development Projects that are both under SOWEDA supervision, he was optimistic that the second phase of the former will be approved. The latter, he stressed, is already undergoing reforms that include studies towards the putting in place of a funding mechanism for livestock and fisheries activities in the region.
The General Manager of SOWEDA Dr. Eneme Andrew Ngome intimated that SOWEDA was able to achieve most of its objectives such as training farmers on modern farming techniques, construction of farm-to-market roads, distribution of inputs to farmers, making great strides to get people out of poverty, among others.
