By Kebba AF Touray
The National Food Security Processing and Marketing Corporation (NFSPMC) has recorded a significant increase in its total current assets, with D2,182,128,983.00 registered as of September 30, 2022.
This marks a substantial rise from the D858,824,911.00 reported on the same date in 2021.
This financial growth was revealed to the Public Enterprise Committee (PEC) of the National Assembly during the corporation’s presentation of its annual reports.
According to NFSPMC officials, the corporation’s total assets—including both current and non-current assets—stood at D2,392,320,000 in September 2022, up from D1,088,054,345.00 in September 2021.
Despite this growth, the corporation continues to face financial challenges, particularly in terms of equity. Officials reported that NFSPMC’s total equity remained in the negative at D102,660,986.00 as of September 2022. However, this was an improvement from the negative D114,793,261.00 recorded in September 2021.
Total liabilities also saw a sharp rise, reaching D2,494,980,986.00 in 2022 compared to D1,202,848,606.00 in 2021. As a result, the corporation’s total liabilities and equity were reported at D2,392,320,000 in 2022, compared to D1,088,054,345.00 in 2021.
