A look at Saudi Cabinet’s decision to rebrand SAGO to General Food Security Authority

Logo of General Food Security Authority (GFSA)

The Saudi Cabinet approved on Jan. 17 the rebranding of the Saudi Grains Organization (SAGO) to General Food Security Authority (GFSA), and endorsed its draft organizational arrangements.

In agreement with the Ministry of Finance and the Non-Oil Revenues Development Center, the GFSA’s board of directors will practice its authority, until the issuance of practices regulations for public entities and institutions and the imposition of financial consideration for services they provide.

The Minister of Environment, Water, and Agriculture; Chairman of GFSA, and the Minister of Finance shall agree on all matters related to the authority’s investments, and the development of appropriate mechanisms that enable it to benefit from its revenues and the financial consideration for the services it provides, in a way that guarantees the authority’s financial sustainability.

According to the resolution, GFSA is still carrying out the operational activities of silos -- including the purchase of wheat and strategic storage – until a decision is made to transfer them to the Saudi Agricultural and Livestock Investment Company (SALIC).