Board members have met in Buea to review and adopt the 2014 budget and plan of action.
The 2014 budget of the South West Development Authority (SOWEDA) has witnessed an unprecedented upsurge as the government has pumped in FCFA 700 million. The Chairman of the Board of Directors, Mbongo Molongo Noah, made the revelation on February 4 at the boardroom of SOWEDA while opening an extra-ordinary board meeting of the structure.
The board chairman disclosed that the financial package allocated for SOWEDA by the Ministry of Finance (MINFI) has witnessed a substantial increase, moving from FCFA 250 million in 2013 to FCFA 700 million in 2014. "Such a huge increase calls for an adopted budget estimates that we had approved to be reviewed", he explained. While extending gratitude to government for providing what he called New Year booster to SOWEDA, Mr. Molongo expressed optimism that the lump sum will permit SOWEDA to meet up with its exalting challenges of alleviating poverty and improving the livelihood of the people.
According to the General Manager of SOWEDA, Dr. Eneme Andrew Ngome, the Development Authority was expecting FCFA 400 million from government for the 2014 financial year as was adopted during the December budgetary session. MINFI has instead made available FCFA 700 million thereby making a surplus balance of FCFA 300 million. The General Manager explained that the additional sum will be used to pay some outstanding debts SOWEDA owed some civil servants who were seconded to the Livestock and Fisheries Development Project and suppliers since 2002. The allowances owed the civil servants amounts to FCFA 71 million while debts owed suppliers are to the tune of FCFA 140 million. Dr. Eneme explained that the balance will be sent into the budget line. The General Manager expressed delight and appreciation to the Head of State and the government for providing an enabling working environment which he said will obviously engender efficiency.
