Catch up on the latest Olam news and delve more into how we’re driving innovation and change through our blog series.
Latest on Olam
3rd Jul, 2020
Sustainable cashew: Working with farmers the co-operative way
On this year’s International Day of Cooperatives, Mallikarjuna Kumaraswamy, Vice President for OIam’s cashew business explains 3 ways the cooperative model is helping reimagine sustainable cashew supply chains
We source much of our cashew from 100 partner co-ops across rural Africa and Asia, representing over 50,000 smallholder farmers who rely on it as a source of income and food security. They afford the farmers access to information, inputs, credit and markets, allowing them to produce more and better quality through the power of the collective. For partners like Olam in the nut sector, they offer a resilient and sustainable sourcing model for our various cashew nuts and butters to satisfy the growing trend in conscious and healthy snacking.
Leaving no one behind
For all our boots on the ground, Olam’s 109 agronomists and extension workers can’t reach the millions of cashew smallholders in rural communities. In Africa, they sell their raw cashew to a complex network of local trad
Olam secures US$375 million European revolving credit facility
Leading global food and agri-business, Olam International Limited (“Olam’’) announced today that its wholly owned subsidiary, Olam Holdings B.V. (“OHBV”), has completed the re-financing of its revolving credit facility (the “Facility”) aggregating US$375 million.
The Facility has a 364-day tenor and is guaranteed by Olam International Limited.
KfW IPEX-Bank GmbH, Erste Group Bank AG, London Branch, Intesa Sanpaolo Bank Luxembourg S.A., Amsterdam Branch, ABC International Bank plc, Frankfurt Branch, Bank of Baroda, Singapore Branch, Sumitomo Mitsui Banking Corporation Singapore Branch and AKA Ausfuhrkredit-Gesellschaft GmbH are the lenders for the Facility. KfW IPEX-Bank is the Facility Agent.
Supporting the coffee community through the COVID crisis
As our industry continues to navigate the impact of the current COVID-19 crisis, Olam Coffee has been committing financial support and resources in the origins where we operate to strengthen small-scale producers and communities. With farmers particularly at risk during the harvest season, efforts have focussed on ensuring their safety and wellbeing, while continuing to buy from them.
Together with various partners, Olam Coffee has already committed significant resources both in-kind and financial support across our origins and we are further increasing our donations to sensitise rural communities, distribute food and hygiene kits and contribute to national fundraising campaigns.
Relief efforts on the ground include:
Educating children on COVID-19 prevention and child labour in Côte d’Ivoire
Recently, children in the cocoa growing communities we work with in Côte d’Ivoire came together to celebrate the International Day of the African Child, which raises awareness of the challenges children face in Africa, with a focus on improving access to quality education.
During the pandemic, this message is more vital than ever. Schools were closed to slow the spread of the virus, disrupting children’s learning and increasing the risk of child labour as they were kept home on family farms at a time when it was hard for farmers to employ other labour.
So, as pupils returned to school, we partnered with the Dominique Ouattara School Complex, constructed in 2015 through funds from Olam Cocoa, to teach them about COVID-19 prevention, boost their enthusiasm for education and learning, and show we cannot let the pandemic damage children’s futures through increased risk of child labour.
Over the course of the day, the pupils were visited by an award-winning youth theatre group who perfor
CIB’s Corporate Responsibility and Sustainability Team spends hundreds of days each year on the ground, listening to and engaging with the local population. The Baaka, the indigenous population of Congo, and Bantus who are the majority of the population live within our forest concessions since our arrival in 1968, listening and speaking with the local peoples has been critical to building mutual respect and understanding.
Regular communications in this region does have challenges and requires innovative thinking. The varied terrain with marshes, savannahs, forest and rivers make travelling a feat and the rains do not make gathering a community or a village easier. The majority of the local population is nomadic in nature and the hunters and gatherers often only come back at sundown, and it can prove harder to have meaningful engagement or conversations at the end of the day. And most importantly, the plethora of local dialects and languages means it is essential to communicate in the