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Olam Agri, IFC Loan Set To Strengthen Global Food Security For Over 40 Million People in Emerging Markets – Naijanewsdirect

  A new loan to Olam Agri, one of the world’s leading agribusinesses, will support the delivery of millions of tons of staple foods to developing countries, potentially feeding over 40 million people at a time of heightened food insecurity around the world.     The International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets, has agreed to provide a loan of up to US$200 million to Olam Agri, the food, feed, and fiber agribusiness subsidiary of Singapore-based Olam Group. The loan will be used to finance the purchase of wheat, maize, and soy from Canada, Germany, Latvia, Lithuania, and the United States for delivery to the company’s processing operations and customers in developing countries that rely heavily on imports of these staple foods. These include Bangladesh, Cameroon, Chad, Egypt, Ghana, India, Indonesia, Nigeria, Pakistan, Senegal, Thailand, and Turkey.       The project is part of IFC’s global efforts to address food insecurity, especially for poor and vulnerable populations that have been hit hard by food inflation. Food prices have risen significantly over the last two years, driven by the impacts of COVID-19, adverse climate events, and the war in Ukraine. The number of food-insecure people in the world has been rising every year since the beginning of the pandemic, with more than half of countries globally experiencing a worsening situation. An estimated 928 million people were severely food insecure in 2020, according to the Food and Agriculture Organization of the United Nations, an increase of 148 million from 2019.       The situation has been exacerbated by the war in Ukraine, which has impacted exports from the Eastern European country and Russia, which collectively produce a large share of key food commodities including wheat and maize as well as energy, fertilizer, and key components of fertilizer production, resulting in rising production and transportation

Seeds For The Future Project: How Olam Is Driving Private Sector Investments In Wheat Seeds Production – Naijanewsdirect

  The escalating global population calls for an innovative approach to food production and farming practices. When these two critical areas of agriculture are addressed, cases of shortages, unabating food price inflation, and extreme hunger would be halved. Scaled seed production efforts, which involve the adoption of innovative seed variety testing and strategic management of the production processes, are critical to the progress of agriculture. Hence, one of the greatest levers that can be pulled at this time to address cases of food shortages around the globe is a pivot to expansive production of high-yielding and adaptable seed varieties across all staple segments. High-yielding and adaptable seed varieties have overriding advantages over normal seeds. They have better adaptation quality for targeted soil and climatic conditions. They are immune to diseases and provide healthy and surplus crops that can meet the needs of a growing market. When these seeds are cultivated on a large scale by an extensive number of smallholder farmers with effective irrigation systems and fertilizer, a nation can very easily be transformed into a regional or global food basket. In Nigeria, the Federal Government and its agencies such as the Central Bank of Nigeria (CBN) and the Federal Ministry of Agriculture and Rural Development (FMARD) have persistently made achieving self-sufficiency in food production one of the focal areas of policies delivered over the past one decade. One segment which has been identified as critical for the development of the country’s Agriculture value chain is the wheat production segment. It has been recognized as key to accelerating the achievement of national food security, production self-sufficiency drive, and the broadening of the state revenue channels. This is because the segment keeps rising in relevance owing to a huge household pivot to consuming non-traditional, wheat derivative foods such as bread, semolina, pasta, and pastries. The goal of transforming

Outspan Opens New MCC, Deepens Impact in Diary Value Chain – Naijanewsdirect

  Outspan Nigeria Limited, a key player in the dairy sector and subsidiary of ofi, in partnership with the Kano Dairy & Livestock Husbandry Cooperative Union (KADALCU), has opened a new milk collection centre (MCC) in Kano. The opening of the latest milk collection centre in Imawa, Kura LGA, on November 24, 2021, is in pursuit of the business’ goal of enabling robust activities in the local dairy value chain through improved collection, preservation, distribution and off-taking of fresh milk produced by smallholder dairy farmers. Outspan Nigeria Limited has so far opened three milk collection centres in Kano State and upgraded a bulking centre cited in the building donated by the Federal Ministry of Agriculture and Rural Development (FMARD). Speaking during the official opening of the new milk collection centre, Mr Vipin Patel, the National Sales Operations Manager for ofi Dairy in Nigeria said, "We are providing infrastructural support and market linkage for smallholder dairy farmers through the opening of milk collection centres. These efforts ensure that the quality of the fresh milk produced locally is preserved and the farmers can access a ready market for the off-taking of their produce.” According to Patel, “Through our investment support for the dairy sector, the smallholder dairy farmers’ livelihoods keep improving as they derive maximum value for the fresh milk produced by their herds.” Speaking about the Outspan milk production value chain development effort, Mr Praveen Paulsamy, General Manager for ofi Dairy in Nigeria, said, “Our partnership with KADALCU borders on feed supplementation, pasture development, training on model dairy farming, and support in milk collection and transportation.” “The opening of the new milk collection centre is coming on the heels of our recent capacity development training engagement delivered by top dairy consultants to bring the Kano Dairy union members up to speed on modern dairy management, and an artificial

Olam To Host Second Wheat Value Chain Stakeholders’ Consultative Forum – Naijanewsdirect

  Olam, an agribusiness conglomerate and parent company of Crown Flour Mill Limited, a top flour milling firm in Nigeria, is set to hold the second edition of its wheat value chain knowledge-sharing and development event. Tagged the Olam Green Land Webinar Series, the second edition of the industrywide consultative event is themed “Rethinking wheat farming in Nigeria - Seeds I Research I Partnerships”. The event will hold virtually on November 24, 2021.   The wheat value chain development event is part of the organisation’s wheat value chain intervention programmes targeted at helping the Federal Government achieve its national food security, food production self-sufficiency and employment generation agenda. As the country grapples with galloping staple food prices and as consumers contend with shrinking income levels and purchasing power, the wheat value chain event is aimed at galvanizing key stakeholders and stimulating useful discourse that will proffer suitable, actionable and measurable solutions to the national wheat production challenge and self-sufficiency aspiration. Speaking about the upcoming event, Ashish Pande, the Managing Director of Crown Flour Mill Limited, said, “Olam is committed to helping Nigeria achieve food production self-sufficiency in the agricultural sector. The second edition of the webinar is coming on the heels of an extensive research that culminated in the launch of our N300 million (US $750,000) 10-year community-based seed enterprises project aimed at fostering Nigeria’s wheat production capabilities.”   He added: “By focusing conversations on critical areas of research, development of suitable seed varieties and strategic partnerships, it is possible to accelerate the local wheat production capacity and remove the bottlenecks in local production." Speaking further, Pande stated: "The move is critical at this moment as the efforts will ultimately strengthen the nation’s food security position, sustain the creation of jobs by the wheat value chain and help achieve the targeted agriculture-led economic development agenda of the

Olam Announces N300m Investment To Set Up Community Seed Enterprises To Increase Wheat Production In Nigeria – Naijanewsdirect

  ...will trial heat-tolerant varieties and create economic opportunities for women farmers Lagos, Nigeria, 27 OctOlam, and its subsidiary Crown Flour Mill Limited (CFM), have launched a N300 million (US $750,000) 10-year project to set up community seed enterprises for Nigerian farmers to increase their production of wheat.   This wheat value chain project will strengthen agricultural production in northern Nigeria’s wheat farming belt and underlines Olam’s commitment to supporting the country’s goal of achieving self-sufficiency in food production.   The project will trial new heat-tolerant varieties of wheat and improved agronomic practices using a participatory approach that directly engages farmers. It will also engage at least 10 female farmers’ associations to become true drivers of change for their communities by training women to lead community-based seed enterprises. These enterprises will produce and make available high value seed to farmers in their local communities.   The female farmers’ associations will be trained on the most advanced agronomic practices for wheat cultivation so these can provide valuable advice to local growers. Periodic feedback sessions will be scheduled between the women farmers, the research organisations and the value chain stakeholders on the status of cultivation to identify areas for change and innovation. This simple concept of “seeds and thoughts” is aimed at facilitating the adoption of new technologies and increasing economic opportunities for rural women.   Commenting on the launch of the project, Ashish Pande, Managing Director of CFM: said, “In order to ensure the long-term viability of the wheat sector in Nigeria, it is critical to identify and support the development of high-yielding local wheat varieties. This project will further stimulate the federal government’s drive towards the attainment of economic growth, the country’s agricultural research capabilities, employment generation, community development and the economic empowerment of women in Nigeria.”   This wheat value-chain project is the outcome of extensive high-level consultations with key stakeholders,

Olam Convenes Agro Experts, Stakeholders To Tackle Widening Local Wheat Supply Gap – Naijanewsdirect

  Olam, a foremost agribusiness and leading player in the wheat value-chain recently convened the first edition of the Olam Green Land Webinar series. Themed “Deepening the wheat farming development programme in Nigeria through innovation, increasing investments and collaborations”, the event is part of an engagement series organised by the agribusiness firm to deepen insights into the various challenges hampering the development of the domestic wheat value chain, while stimulating private and public sector actions to proffer solutions to the various challenges. Amongst the speakers that spearheaded the domestic wheat production development discourse were Dr. Filippo Maria Bassi, a senior scientist at the International Centre for the Agricultural Research in the Dry Areas, Morocco; Alhaji Dan Agundi, the Chairman, House of Representatives Committee on Agricultural College and Institution, and Sarah Hubber, Head, Wheat Development Programme, Flour Millers Association of Nigeria (FMAN). Alhaji Salim Saleh Muhammad, National President of the Wheat Farmers Association of Nigeria (WFAN) and Mr. Kachalla Kyari Mala, a professional Wheat Breeder and the Principal Research Officer at the Lake Chad Research Institute (LCRI), Maiduguri and Zubairu Abdullahi, Director of Planning and Policy Coordination, Federal Ministry of Agriculture and Rural Development, amongst others, also lent their voices to the discussion. Speaking on the rationale for the Olam Green Land Webinar Series, Ashish Pande, the Managing Director of Crown Flour Mill Limited, a subsidiary of the Olam Group, said it was geared towards exploring the key drivers of growth in the domestic wheat value chain. He added that the discourse was also aimed at tackling the various hurdles to wheat production sufficiency in Nigeria. Dr. Filippo Bassi, the keynote speaker explained that Nigeria needs to start the pursuit of progress along the wheat value chain by defining the ideal seed variety for each region and what seed maturity, yield, irrigation, and milling-quality level will

Olam Set To Host Webinar On Boosting Local Wheat Production – Naijanewsdirect

  Olam, a leading food and agribusiness conglomerate, is set to hold its inaugural webinar series, the Olam Green Land Webinar Series, themed “Deepening the wheat farming development programme in Nigeria through innovation, increasing investments and collaborations.”   The webinar series, which will hold on March 26, 2021, will be headlined by award-winning scientist, Dr Filippo Maria Bassi, a senior scientist at the International Centre for the Agricultural Research in the Dry Areas (ICARDA) based in Morocco, where he leads the durum wheat breeding team to deliver varieties adapted to dryland agriculture. Dr Bassi will deliver the keynote address.   Speaking on the rationale for the webinar, Mr Ashish Pande, the Managing Director of Crown Flour Mill, a subsidiary of Olam Nigeria, said it is part of the company’s contribution to supporting ongoing efforts by the government and industry stakeholders in achieving Nigeria’s aspiration of self-sufficiency in wheat production and the overarching objective of food security. According to Pande, the webinar will be a platform for engagement and exchange of ideas among stakeholders across the agriculture value chain. “The webinar series is our latest intervention programme to support Nigeria’s agro and food sufficiency drive. We hope that the platform will engender robust interactions and valuable knowledge sharing among key stakeholders in the agriculture value chain, particularly wheat farming, that will help transform the sector and help Nigeria attain food sufficiency. Olam remains determined to create an ecosystem for partnerships and collaborations in agriculture.”   He stated further: “Our sole objective of inaugurating the Olam Webinar Series is to facilitate conversations that will help all critical stakeholders galvanize for action by creating an ecosystem for partnerships and collaborations that will foster positive change.”   The webinar is expected to attract stakeholders from both the private and the public sectors, including agricultural experts from the Federal Ministry of Agriculture and Rural Development,

Olam Emerges 2020 Employer Of Choice In Africa As Certified By Top Employers Institute – Naijanewsdirect

  Olam, a leading food and agribusiness conglomerate, has emerged as an employer of choice in the African region for 2020. The agri-business firm, which has extensive market operations in Nigeria, Ghana, Ivory Coast and South Africa, among others, emerged with a strong score during an HR Best Practice survey conducted by Top Employers Institute, a global authority on recognising excellence in people practice.   The survey conducted by the institute covers 600 ‘people development’ practices across 10 topics comprising talent strategy, workforce planning, talent acquisition, onboarding, learning & development, performance management, leadership development, diversity and inclusion, career & succession management, compensation & benefits, and culture.   Consequently, Olam joins SAP, Sanofi, DHL, NTT, Orange, Novartis, Takeda, and BAT on a list of over 1,500 organisations that have been certified by the Top Employers Institute over 25 years in 118 countries. According to the Amsterdam-based institute, the certified top employers impact the lives of over six million people globally.   Jaideep Biswas, who doubles as Regional Human Resource Head and Global Business Partner FMCG Business, Olam International, said: “We prioritise the implementation of robust people development strategies at Olam. Our approach is aimed primarily at keeping our people engaged by enriching the world of work for our employees. The recognition by the Top Employers Institute demonstrates the effectiveness of our organisation’s strategic approach to our employees’ wellbeing and overall career aspirations.”   In the same vein, Halima Akintola, Talent Acquisition Lead at Olam Nigeria, said, “This recognition as an employer of choice in the African region is simply a validation of our commitment to driving a workplace experience that matches the aspiration of our employees. This is because we focus on enriching the lives of our employees in line with global best practices in all our approaches to talent acquisition, onboarding, learning and strategic implementation of capacity development procedures,

Olam Celebrates Nigeria At 60 – Naijanewsdirect

As Nigeria marks the 60th anniversary of her independence, Olam, a leading player in the Nigerian agricultural value chain, is celebrating this significant milestone. The firm also used the opportunity of the independence celebration to restate its commitment to continuously support and contribute to the country’s economic growth aspirations.   Mukul Mathur, Country Head, Olam Nigeria Limited described Nigeria as one of Africa’s most vibrant economies. He also commended the government’s continued commitment to support the Nigerian Agricultural Promotion Policy with robust economic reforms and an enabling business environment. According to him, the milestones which have been achieved as a nation in the six decades of independence are worth celebrating, despite the challenges.   Mathur also reiterated the organisation’s pledge to increasingly stimulate growth in Nigeria’s agricultural sector. He shared further saying: “Our core focus remains meeting Nigeria’s food security needs and ensuring the development of the country’s agricultural value chain. We are truly committed to the growth of the food and agricultural sector whether it’s through our support for smallholder farmers or the government’s efforts in diversification of the Nigerian economy.   This goal has driven Olam to inject about US$1.5 billion in the country’s economy with our most recent investments being our Integrated Poultry Farms & Hatchery in Kaduna and the acquisition of Dangote Flour Mills. We remain committed to the advancement of economic growth and sustainability in Nigeria. The huge investments we have made in the food and agricultural value chain make it evident that we are in for the long-haul.   “As we celebrate the country’s 60th year of independence, I enjoin the citizens to continue to exhibit the traits of courage, tenacity and determination which best describes the true Nigerian spirit.”