INTRODUCING THE WAREHOUSE RECEIPT SYSTEM IN GUINEA-BISSAU
Shelter for Life International and its partner Connexus Corporation are advocating for the introduction of the Warehouse Receipt System (WRS) in the cashew sector in The Gambia and Guinea-Bissau.
The warehouse receipt system is a mechanism that will allow cashew producers to access credit at competitive rates using bank loans, through receipts issued for goods stored in warehouses. Countries such as Uganda, Tanzania, Zambia, and Senegal are examples to follow in terms of successful implementation of this system.
On November 10, Shelter for Life International presented the Warehouse Receipt System to the team of the Prime Minister of Guinea-Bissau, in Bissau.
Jean Gomes, our partner Connexus’ Access to Finance officer, presented the system after a brief description of the LIFFT-Cashew project by the Shelter For Life Chief of Party Laurent Gomis.
The members of the Prime Minister cabinet welcomed the initiative and raised some questions related to involvement and adhesion of banks in the particular context of Guinea-Bissau and the experience of other countries such as Senegal.
In Guinea-Bissau, we are working with the government, the National Cashew Agency, the National Farmers’ Association, financial institutions, and cooperatives for the adoption of the Warehouse Receipt System.
Besides the Prime Minister’s team, the session was also attended by the Shelter For Life Deputy Chief of Party, Elisabete Dumbia da Silva and the President of the National Farmers’ Association, Jaime Gomes.