News Flash | Mr. Richard Lackey, Chairman and CEO — World Food Bank Founder For EA Chamber Meet In Dallas

Posted September 20, 2016 by Ugandan Diaspora News Team in EACC Chamber Conference -- Dallas 2016 ~ 2,426 views



Mr. Richard Lackey, Chairman and CEO the  Global Food Exchange is leading the launch of the World Food Bank.  From leaders at the UN World Food Programme to the world’s largest NGOs and development experts, Mr. Lackey sees the World Food Bank as the catalyzing entity for permanently lifting tens of millions of farmers out of poverty while securing the world’s food supply into the future. He is convinced the East African Community holds the key to a collaborative launch of the World Food Bank.

Mr. Richard Lackey is a serial entrepreneur and an investment manager with decades of diverse experience. His unique background includes several years in international emergency medical response missions as well as nearly three decades as an active trader and fund manager in the United States and Latin America. Mr. Lackey held eight different securities licenses spanning equity, options and futures markets. He has served as the Managing Director for five successful private funds. Over the years he has established himself as a highly regarded expert in the securities trading industry, having appeared in magazines, radio and television.
Mr. Lackey’s expertise in emergency response management as well as the inefficiencies of markets led him, along with a world-class team of experts, to create the Global Food Exchange. The Global Food Exchange is responsible for establishing the world’s most valuable commodities as the world’s newest and potentially safest asset class. Mr. Lackey is passionate about utilizing the Global Food Exchange as a solution for the need in getting critical supplies to disaster victims.


• 2010 Cornell University: Hotel Finance and Management
• 1989 University of Georgia: Bachelors Marketing and Management
• 1987 Harvard University: Certification in Fund Analysis
• Schools: Real Esta

About The World Food Bank

World Food Bank (WFB) leverages extended shelf-life food storage technologies to resolve the world’s most pressing food security challenges. The World Food Bank™ was created to function as an institutional investment entity that operates much like a traditional bank, but with food as the core asset rather than cash. We utilize our institutional buying power to provide price to support smallholder farmers who we believe are the key to lifting over one billion people out of poverty and ending hunger by sustain-ably nourishing a growing world population.

The key to sustainable food systems lies in an ecosystem where participation from each stakeholder de-risks operational funding for other stakeholders. As an example, the World Food Bank utilizes its institutional purchasing power to provide price guarantees to smallholder farmers who will be paid more for their product when market prices crash. This price support allows smallholder farmers to become “bankable” in the eyes of financiers and insurers as their repayment risk for input finance or crop insurance is decreased considerably when farmers are guaranteed sale of their products.

As a result, farmers are able to use higher quality seeds and fertilizers that increase the quality and quantity of their outputs, allowing their new product to meet global quality standards and access new markets, including that of dried food trade through Global Food Exchange. Domestically, when agro-processors can have dependable supply from an intermediary, like a World Food Bank, who holds product available year-round due to the inherent extended shelf-life properties of their commodities, domestic and foreign direct investment will naturally increase due to dependable reserves of supply.

The presence of a World Food Bank entity creates a considerable amount of food security for the host nation and its people as the food reserves are available in the event imports are cut off, a natural disaster or humanitarian crisis hits, all while providing ongoing market price stabilization measures to local markets facing shortages and spiking prices. Furthermore, the presence of WFB allows for significant opportunities for stakeholders to capture margins throughout the value chain, from farmers to traders, processors, retailers, and investors. The team launching the World Food Bank has built strong relationships with leading relief organizations, and is now primed to address food security needs in emerging markets and is seeking sovereign partnerships to build systematic food security solutions.

Source — World Food Bank – and For Details of the EA Chamber Meet in Dallas – 

About the Author

Ugandan Diaspora News Team

Ugandan Diaspora News Online is an independent, non political news portal primarily aimed at serving Ugandans who work and reside outside Uganda. Our aim is to be a one stop shop for everything Ugandan and the celebration of our Ugandan heritage.


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