The forum was organized to increase the level of transparency and accountability in the industry
Olam Cocoa Ghana, a leading Licenced Buying Company (LBC), has held a forum for its network of purchasing clerks to review existing structures and establish new protocols.
The move is to increase the level of transparency and accountability in the industry and deliver maximum impact for cocoa farming communities.
The forum was attended by 450 Royal Purchasing Clerks from various cocoa producing districts.
These are the company’s grade ‘A’ category for clerks who typically procure a minimum of 5,000 bags of cocoa beans per season, which is quite a commendable feat to achieve, considering the highly competitive nature of the industry.
Addressing the attendees, the Procurement Head & General Manager of Olam Cocoa, Jonathan Quaynor, noted that by providing financial capital to procurement clerks and through the Olam Farmer Loan scheme, the company can ensure that farmers were paid on time and in full.
He commented, “The interests of farmers need to be protected by having the right systems and processes in place. For example, we’re distributing new electronic scales for weighing cocoa to promote greater transparency in the transaction process. And we’re developing a succession plan to help future generations start a career in cocoa, including through offering training in good agricultural practices.”
Olam Cocoa also announced that it is commissioning eight executive bodies made up of Royal Purchasing Clerks. They will have direct oversight of all purchasing activities in their various districts and ensure that the highest standards are maintained. This will be achieved through regular engagement with the leadership of Olam Cocoa Ghana to update on progress and swiftly resolve any issues.
Eric Asare Botwe, Business Head of Olam Cocoa Ghana, said, “The company has been the best performing LBC in the country for the past three years. This is in large part due to the hard work and dedication of our purchasing clerks. We’re grateful for their continued commitment and hope that the additional measures we’re announcing will support them into the future.”
The leadership of Olam Cocoa Ghana, having successfully engaged with the Royal Purchasing Clerks, intends to have this forum annually to ensure that all stakeholders are aligned with best practices.
