Olam receives award for investment in Africa

by World Grain Staff
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LONDON, ENGLAND — Olam International Limited announced on Oct. 11 that the company has received this year’s Africa Investor – ‘Leadership in Sustainable Investment in Africa’ Award. It was presented at the Investment and Business Leader Awards, as part of the Africa Investor CEO Investment Climate Summit (Ai CEO Investment Climate Summit).
The Ai CEO Investment Climate Summit is held annually, in association with the World Bank Group, alongside the World Bank and IMF Annual Meetings. The Investment and Business Leader Awards seek to reward exceptional business practices, economic achievements and investments across the investment spectrum in Africa.
Olam began in Africa 23 years ago, sourcing cashews from Nigeria. Today, Olam has grown from one platform to 16, in a global supply chain that spans over 65 countries. Twenty four of those countries are in Africa, where Olam provides work for over 25,000 full-time, contract and seasonal staff and handles 4.1 million tonnes of agri-commodities on the continent each year.
The award recognizes The Olam Livelihood Charter (OLC), which formalizes the company’s long-standing commitment to investing in rural communities in emerging markets. Olam works with 3.5 million small-scale farmers across the globe.
“Olam’s long-standing commitment to investment in rural communities, primarily in Africa, has enabled us to become an industry leader in sustainable practices. We believe that operating in a sustainable manner and delivering long-term value for continuing shareholders are complementary. This ethos informed the launch of The Olam Livelihood Charter in 2011,” said Sunny Verghese, goup managing director and chief executive officer, Olam International.
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