FPI- Executive President's Year-End Report

  


December 16, 2023

 

Dear Farmer's, Partners and Shareholders,

I am pleased to present to you the year-end report for Farmer's Pride International, a leading agriculture company operating across several countries. Although carrying over challenges that started in 2022, the year 2023 has been a transformative and eventful period for our company, marked by significant achievements, challenges, and opportunities. I am proud to report that despite the global uncertainties, we have continued to demonstrate resilience, innovation, and sustained growth across our multi-national operations.

Financial Performance:

In the face of a complex and dynamic global economic environment, I would like to report that Farmer's Pride International has not been able to deliver strong financial performance for the year 2023 due to the slowing down of the start of its investments. In 2024 we expect growth that will be driven by our strategic expansion into new markets, increased productivity, and the successful launch of innovative agricultural products and services.

Operational Highlights:

Our commitment to operational excellence has been unwavering, and we have made substantial progress in several key areas. Our efforts to enhance agricultural productivity, streamline supply chain operations, and optimize distribution networks have yielded tangible results. Furthermore, our investment in cutting-edge technologies such as precision agriculture, data analytics, and sustainable farming practices has positioned us as a leader in the industry.

International Expansion:

Farmer's Pride International has continued its expansion drive into new markets, and we have successfully established a presence in 49 countries most of which are at their teething stage. Our international operations have contributed to our growth and allowed us to diversify our risk and leverage the unique opportunities presented by each market. Our ability to adapt to local conditions and cultivate strong relationships with stakeholders in these countries has been instrumental in our success.

Crops under Promotion for International Exports:

Farmer’s Pride International has chosen 15 high-value crops for its sustainable livelihoods and economic empowerment, and through its RUAIPP it started providing skills and knowledge on Potato farming in 5 countries from the year 2022 to the year 2023, in the year 2024 we expect to bring on board the following crops:

1- Sunflower  

2- Moringa

3- Rice

4- Wheat

5- Soybeans

6- White Sesame seeds

7- Strawberries

8- Blueberries

9- Yellow maize

10- Ground nuts and other nuts

Sustainability and Corporate Responsibility:

As a responsible global citizen, we remain committed to sustainable practices and corporate social responsibility. Our initiatives to promote environmental stewardship, support local communities and ensure the welfare of our employees have been integral to our long-term success. We have made notable strides in reducing our environmental footprint, promoting responsible land use, and contributing to the well-being of the communities in which we operate.

Microfinance Credit Schemes: 

In the year, Kevin Wilson the Vice President and CEO managed to work with most of our international branches'  leadership in setting up microfinance credit schemes (Self Help Microfinance initiatives), these have brought in great results with countries involved now able to start bigger RUAIPP projects, these achievements have brought with them a relief to our farming communities who now find themselves being able to fund their agriculture activities. 

Cluster Farming:

It has always been a strength to work together as a people, FPI has brought in a special initiative that promotes working together and this initiative will assist our farming communities to win big as they work together on big projects that are self-funded from the Self Help Microfinancing initiatives being done in their communities, this gives them power to control the results of their projects. Agriculture Based Clusters are a composition of farming clusters and Industrial Clusters that promote the mass production of cross-border, value-chain development crops, that are required globally and can give farmers money in a short space of time. 

Challenges and Opportunities:

While we have achieved significant milestones in 2023 outside finances, we are not oblivious to the challenges ahead. The agriculture industry is evolving rapidly, driven by technological advancements, changing consumer preferences, and global macroeconomic shifts. However, we see these challenges as opportunities for innovation, diversification, and strategic adaptation, and we are confident in our ability to navigate the evolving landscape.

Postponement of the Farmer's Global Network Round Table:

December 2023 saw the postponement of the Farmers Global Round Table, which was originally scheduled to take place on 22 December 2023. This was due to unforeseen circumstances, we have had to reschedule the event to 6 to 11 May 2024

As a company committed to providing a high-quality event that brings together farmers worldwide to discuss the industry's challenges and opportunities we hope by postponing the event, we can ensure that our farming community and all stakeholders deliver on our promise.

 Partnerships:

In 2023 we managed to go into several partnerships with great partners and institutions of higher education, notably amongst all is our partnership with the Unversity of Richmond in the United States of America, a deal which was brokered by our Vice President and CEO Kevin Wilson. This partnership brings value to FPI as it will bring much-needed capacity building on Research and Development being carried out in New Jersey, USA, where we have our research and development department, this partnership brings Technology into RUAIPP.  

Looking Ahead:

As we look to the future, we remain focused on our strategic priorities, including innovation, operational efficiency, and sustainable growth. We are committed to leveraging emerging technologies, expanding our market presence, and fostering a culture of excellence across our global workforce. 2024 holds immense promise, and we are determined to build on our achievements and create long-term value for our shareholders, partners, and stakeholders. Lastly, on this part, 2024 shall see us fulfilling our investment promises as we bring in new partners to support our work.

 Appreciation: 

I would like to give my appreciation to my two vice Presidents, Kevin Wilson and Donald Pillai who have continued to stand with the company and me as we work on building a Global sustainable food transformation system. 

In closing, I would like to express my gratitude to our country Directors, National Coordinators, Provincial Coordinators, District and Cluster Coordinators,  shareholders, employees, customers, and other partners for their unwavering support and dedication. Our success was only possible with the collective efforts of our global team. I am confident that with our shared vision and commitment, Farmer's Pride International will continue to thrive and lead the way in the agriculture industry.

Thank you for your continued trust and confidence in our company.

 

Sincerely,

 

Elfas Mcloud Zadzagomo Shangwa

Executive President and Founder

Farmer's Pride International

Mobile: +26773269606

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