Business News of 2014-05-25

Olam wins CSR award

Olam Ghana, a leading agro-commodity company, has been recognised by the Association of Ghana Industries (AGI) and the Ghana Chamber of Commerce (GCC) for its commitment to Corporate Social Responsibility in its business operations in Ghana.

The institutions presented Olam with an award at the recent Chamber of Commerce CSR Diary Awards ‘for being a good corporate citizen and for implementing diverse socially responsible projects in agricultural communities’.

Olam Ghana, a subsidiary of Olam International, has a 20-year track-record in Ghana as a leading supply chain manager of agric products and food ingredients, and ranks among the country’s top Licenced Buying Companies (LBCs).

The company has made significant investments across the supply chain -- from lending practical support to farmers in cocoa and cashew growing communities, to the construction of industrial infrastructure such as its ultra-modern wheat mill at Tema. Olam also has a grassroots presence in more than 80 towns and villages across the country and runs a sustainable farmer livelihood improvement module that has touched the lives of nearly 300,000 farmers throughout the country.

Olam International, the parent of Olam Ghana, is in its fourth year of instituting across all its operational markets an Olam Livelihood Charter (OLC) -- a practical and measurable framework focused on creating economic prosperity among farmers, improving social welfare, as well as safeguarding the environment.

Olam Ghana was named among 16 companies identified nationwide and honoured by the Chamber of Commerce as having initiated programmes and policies that benefitted local communities and gave something back to society in 2013.

Some Olam officials have singled out the company’s extensive corporate responsibility and sustainability activities in its cashew operations as being directly accountable for the award. Officials maintain that Olam has long recognised that it is in a unique position to enhance the Ghana cashew value chain and improve the livelihoods of farmers by integrating initiatives into its overall cashew procurement strategy, which includes addressing the major challenges facing cashew farmers such as the lack of direct market access; lack of improved planting materials; and low knowledge about the best agricultural practices.

In partnership with African Cashew Initiative (Aci), an NGO focused on building a sustainable African cashew sector, Olam has invested in the overall development of cashew growing communities, particularly in the Brong-Ahafo Region.

The Ghana CSR Diary Awards, a novel recognition platform designed to encourage corporate commitment to sustainable social responsibility in Ghana, was jointly organised by the Association of Ghana Industries (AGI) and the Ghana Chamber of Commerce for the corporate community, and was attended by more than 100 companies. The awards event also served as the launch of the ‘2014 CSR Diary’, a free publication distributed to businesses across Ghana.

Officials of Olam Ghana say they are highly excited to be part of a community that is making a positive impact on society through corporate social responsibility.

"The Ghana CSR Diary is an important publication that will raise awareness about the positive impact of corporate social responsibility. Olam is honoured to have received an award from the Ghana Chamber of Commerce and Association of Ghana Industries, and we are grateful to these two institutions for putting the spotlight on what we have been doing all these years to improve the livelihoods of farmers in Ghana," said Amit Agrawal, Country Head of Olam Ghana.

Source: BFT
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