In Africa, we have facilities in Nigeria, Ghana, Cameroon and Senegal helping these countries to reduce import costs of refined wheat. With an unrelenting focus on food safety, innovation and cost efficiencies, we produce a range of quality flours for breads, baguettes, pasta noodles, biscuits, semolina and confectionery.
In addition, we market wheat and maize to many countries in Southern Africa, we are expanding into North and West Africa. From our Durban office, we run our Atlantic freight desk, procurement, and risk management for all our mills.
More recently, we have entered the Animal Feeds and Protein sector in Nigeria, which is also helping to stimulate rural communities and support domestic food security.
Our physical presence in major origin and consuming countries for these products has given us an in-depth understanding of local market dynamics, helping us develop long-standing relationships with both producers and consumers.
“Although Olam is a relatively new entrant to the grains space, we have chosen to participate in niche segments rather than in mainstream trade flows where the global majors are well entrenched. This niche yet scalable growth strategy is working well for us.”
Prior to our acquisition of Crown Flour Mill (CFM) in Nigeria in 2010, which has 2 port-based milling facilities in Lagos and Warri, millers imported most of the wheat from the United States. This quality but high value import creates a substantial foreign exchange burden on Nigeria. With around US$450 million invested in modern milling plants and CFM technical innovations, we have been able to develop a milling process that uses wheat from different origins, which in turn has led to imports saving of almost US$40 million for the country.