Day: January 29, 2024

Prominent agribusiness company, Olam Food Ingredients, ofi Cameroon, has been awarded the prestigious ‘Top Employer 2024′ certification from the Top Employer Institute, a global authority on recognizing excellence in people practice.

This recognition honors the company’s HR practices excellence in the areas of talent acquisition and development, employees’ well-being, diversity and inclusion.

The rigorous certification process involved a comprehensive evaluation across six main categories notably:

Steer (Strategy, leadership)

Shape (Organization change, work environment)

Attract (Employer branding, talent acquisition, onboarding)

Develop (Performance, career, learning)

Engage (Wellbeing, rewards, and recognition, offboarding)

Unite (Purpose and values, diversity, equity and inclusion, sustainability)

This global recognition is a testament to ofi Cameroon’s commitment to excellence in people practices and underscores her dedication to fostering a supportive and inclusive workplace environment.

Durin
g a ceremony to commemorate this significant achievement, at the company’s corporate headquarters in Douala, the Country Head and Vice President of ofi, Manna Joseph, noted that from its inception ofi has always been a people-centered company that puts the welfare of employees first. He added that this prestigious certification underscores a nearly three-decade legacy of being a people-centric organization, dating back to Olam’s initial presence in Cameroon. Manna Joseph has dedicated the award to employees of ofi Cameroon, noting the award is a result of the collective efforts of all employees who work diligently every day to collaboratively create and maintain a positive work environment.

About Cameroon’s Cocoa Giant, ofi: A Story of Resilience, Sustained Growth and Pacesetting in Supply Chain Sustainability

Cameroon’s agribusiness landscape is bursting with many actors, but one company that stands out is the global leader in food and beverage ingredients, Olam Food Ingredients (ofi) which has some 29 yea
rs plus of history and heritage in the country, particularly in sourcing cocoa. ofi Cameroon which operates as OFI CAM SA (formerly part of OLAMCAM SA) is one of the top two players in the cocoa industry and today accounts for more than 20% of the total Cameroon cocoa beans export.

With its flagship product, cocoa beans, ofi Cameroon became one of the pioneer companies to attain 100% traceability, 100% deforestation monitoring in its direct supply chain, and 100% Child Labor monitoring in managed programs. The company is set to becoming the reference in supply chain sustainability in Cameroon. So, what is the story of ofi Cameroon?

ofi Cameroon

The journey of ofi in Cameroon dates to 1995 when, Olam, as it was formerly known, expanded to Cameroon, focusing on sourcing, and exporting agri-commodities, specifically cocoa, and coffee, and importing rice. In 2006, ofi acquired USICAM from Bollore, which at the time was the country’s biggest cocoa beans drying, cleaning, and grading facility.

Spurred by the ev
er-growing desire to drive innovation and maximize its long-term value, Olam International, in October 2020, created two distinct businesses: Olam Agri with focus on consumer-packaged food, and Olam food ingredients (ofi) specifically for sustainable, natural, value-added food products and ingredients consisting of industry-leading businesses derived from cocoa, coffee, dairy, nuts, and spices. These innovations reflect ofi’s purpose ‘to be the change for good food and a healthy future’.

With an incessant desire to expand its long-term impact on the Cameroonian economy, ofi Cameroon is capitalizing on a nearly 3-decade legacy to continue growth in the sourcing, processing, and export of cocoa beans, its flagship product.

Headquartered within the vicinities of the Douala Port, ofi Cameroon is fully focused on being a good corporate citizen, maintaining a direct physical presence in all major cocoa basins across the seven major cocoa-producing regions of Cameroon. The company has committed significant investm
ents in the cocoa sector to help drive Cameroon’s economic growth and support farmers to have a more prosperous future.

ofi’s operations provide direct and indirect sources of income to thousands of farmers and households. ofi Cameroon directly employs over 500 permanent and seasonal workers, including Local Buying Agents, Transporters, and service providers.

Ofi is fully focused on being tax-compliant. In 2019, ofi was awarded a trophy by the country’s customs department for achieving the highest volume growth, contributing to the country’s growth plans. This meant a growth in tax contributions. In 2023, ofi Cameroon was again recognized by Cameroon’s Customs Department as the exporter with outstanding progress in 2022 and the third biggest exporter in Cameroon in the same year.

Sourcing Sustainable Cocoa

In alignment with ofi’s cocoa compass, in 2018, ofi Cameroon rolled out an extensive sustainability direct supply chain program. Through the Good Agricultural Practices (GAP) training program, cocoa yie
lds increased from 496 kg per hectare (2019 baseline year) to 639kg per hectare a year in 2023. Through the Rainforest Alliance Certification, the company has moved from 3000 tons in 2019 to 30,000 tons of certified cocoa beans in 2023, with a corresponding increase in sustainability premiums to farmers from over 250,000 USD in the 2019 baseline year to approximately 1,500,000 USD in 2023.

Following ofi’s commitment to ensuring a deforestation-free cocoa supply chain, 98% of farmers have been GPS polygon mapped to ensure that they are not in protected forest areas. ofi has worked with the Cameroon Cocoa Development Corporation (SODECAO) to donate about a million high-yield cocoa seedlings to farmers across its supply chains for the regeneration of old farms where productivity is already below average. The company has taken further steps to protect and restore forests by initiating actions with Cameroon’s Forestry Agency (ANAFOR) to distribute more than 10,000 shade trees to farmers to help shade cocoa plants
and increase forest vegetation.

In conformity with its cocoa compass ambition of remediating all identified cases of child labour in its supply chain by 2030, ofi Cameroon in partnership with Fair Labour Association, became one of the pioneer cocoa companies to introduce the first professionalized child labor monitoring and remediation system in Cameroon. Since 2020, ofi Cameroon has achieved 100% child labor mediation and remediation monitoring for farmers in our managed sustainability programs. The program has moved from actively monitoring 1839 farmers in the 2019 baseline year to over 21000 in 2023. The company has donated over 600 benches to benefit over 6500 pupils in five years as part of its supply chain relief effort to grant children access to good education. During the 2023/24 academic year, the company distributed over 5,000 customized exercise books and over 500 school bags, and hundreds of didactic materials to children in her supply chain.

In the health domain ofi has conducted anti-typhoid f
ever campaigns amongst farmers in supplier networks, where testing and treating as well as vaccinating against the disease was carried out. Most recently, the company sensitized and did free breast cancer screening for over one hundred farmers in her supply chain.

Supplying communities with good drinking water has also been part of the ofi’s supply chain relief efforts. The company has invested over 83 million FCFA to provide clean water to communities. It constructed ten boreholes across different communities including: Bivouna, Nguette, Betamba, Nyabidi, Jerusalem (Nguila), Ndimi, Makenene, Voundou, Biakoa, and Ntui. The publication of these supply chain relief activities on ofi’s award-winning sustainability insights platform AtSource has provoked a sharp increase in the demand for high-quality and a steady supply of cocoa from Cameroon.

Address

OFICAM SA, BP 6130 Zone Portuaire, Douala. Tel: +233 43 77 98. Direct all inquiries to Corporate Communication via email: leke.regina@ofi.com

Source: Cameroon
News Agency

A delegation comprising 14 permanent representatives to the United Nations Office in Geneva on Sunday embarked on a tour of the Southern Provinces of Morocco.

On this occasion, they bear witness to the distinctive development of this part of Moroccan territory.

The visit of these ambassadors to the southern provinces highlights Morocco’s determination to showcase its progress in all domains in this region, the cradle of cultural diversity and the political and social values that unite the components of the Kingdom.

This wealth of identity is an essential driver of development and national cohesion.

Morocco not only promotes development within its own borders but also extends its momentum and support to its African neighbors. Through its commitment to UN peacekeeping missions and large-scale medical assistance, Morocco demonstrates its solidarity and commitment to the African continent.

The New Development Model for the Southern Provinces illustrates Morocco’s commitment to economic and social empowermen
t.

This model aims to strengthen local capacities and foster regional integration. Results are already evident, with socio-economic indicators often surpassing the national average.

In a context where sustainable development and regional cooperation are crucial issues, Morocco positions itself as a major player in Africa.

With a strategic vision and concrete initiatives, the country is forging ahead towards a prosperous and inclusive future for the entire region.

As a gateway between Africa, Europe, and the Middle East, Morocco is a key player in promoting economic, cultural, and political exchanges.

Its strategic geographical position makes it a vital regional hub, facilitating North-South and South-South exchanges.

The recent initiative to facilitate access for Sahel states to the Atlantic Ocean is a tangible example.

Morocco emerges as a model of development and cooperation in Africa.

With its commitment to cultural identity, sustainable development, and regional cooperation, the country paves the
way for a future of progress and shared prosperity for all.

Source: Ghana News Agency

Two people were killed and two severely injured by wild flames at a place called Hongkong City in Mabanda, Douala IV sub-division on Sunday, January 28, 2024.

Both injured victims are battling for their lives at the Bonassama District Hospital while the remains of the deceased victims have been deposited in the morgue of the health institution.

Sources say they heard a loud explosion in a bakery, accompanied by flames that was already extending to nearby houses.

While inhabitants struggled to contain the flames, others alerted firefighters who arrived and took almost three hours to put out the fire.

Material damage was estimated at millions of FCFA.

The cause of the explosion was not determined as the population wondered in shock.

Source: Cameroon News Agency

Some environmental scientists and experts are advocating robust research, policy framework and the requisite investments to underpin Africa’s aspirations on the transition towards net zero emissions.

The journey towards net zero emissions was an ambitious yet achievable goal, Professor Eric Nyarko-Sampson, the Vice-Chancellor of the University of Environment and Sustainable Development (UESD) noted.

‘As Africa embraces clean energy, it will not only address the challenges posed by climate change but also unlock new opportunities for economic development, job creation and improved quality of life for its people,’ he said.

The Vice-Chancellor was addressing the opening session of the Fourth Commencement Lecture, organised by the University on the topic, ‘Towards Net Zero Emissions: The Role of Clean Energy in Africa,’ at Somanya, in the Eastern Region.

The Lecture, the fourth in the series of intellectual discourse, is an initiative of the University aimed at discussing issues pertaining to the environment
and sustainable development.

It also marks the commencement of the University’s academic year – an institution seeking to be a Centre of Excellence in knowledge gathering and dissemination of environmental issues for the public good.

The theme for this year’s Commencement Lecture was premised against the backdrop of the urgent need to address the issue of climate change and greenhouse gas emissions.

Africa, with its growing population and expanding economies, is at the crossroads of its energy future.

The Directorate of Technology, Climate Change and Natural Resources Division of the UN Economic Commission for Africa says the mobilisation of finance to tackle climate change, particularly for adaptation, is as urgent as ever.

‘The good news is that renewable energy is the cheapest form of energy generation available and, therefore, it makes sense for Africa to invest in renewables,’ it said.

Prof Nyarko-Sampson argued that the continent’s vast renewable energy potential, including solar, wind, hydro and
geothermal resources, positioned it as a prime candidate for a clean energy revolution.

Clean energy solutions played a pivotal role in shaping the continent’s future while addressing the issue of greenhouse emissions, he stressed.

Dr Daniel Tutu Benefoh, the acting Director of the Climate Change Unit of the Environmental Protection Authority (EPA), in his presentation, stressed the need for an orderly transition.

In the case of Ghana, he stated that the country was striving to achieve net zero carbon emissions by 2060, through the deployment of low-carbon solutions across all sectors.

A 2060 target could achieve an orderly transition, balancing public policy objectives, he noted and cited four main decarbonisation technologies being explored to anchor the vision.

Together, renewables, low-carbon hydrogen, battery electric vehicles and clean cookstoves cover over 90 per cent of the 2060 abatement strategies.

On the socio-economic impacts and financing needs, Dr Benefoh explained that, in a net zero scen
ario, Ghana would need around US$550 billion in capital investment by 2060.

Delivering this investment could drive new economic activity in the energy sector and beyond, potentially, supporting an additional 400, 000 net new jobs by 2060.

A set of technology transitions, via a power generation mix, will be needed to achieve net zero emissions by 2060.

With the energy transition issues in sub-Sahara Africa, experts are also focusing on the environmental stewardship and climate resilience components of the strategies, and there is the need for universal access to affordable, reliable, sustainable and modern energy.

Mr Hackman Owusu-Agyemang, a former Minister of State, said Africa needed a realistic road map that considered a different, but effective, approach towards net zero emissions.

He lauded the University for taking the initiative to deliberate on the topical issue, saying it was critical that African countries, along with the rest of the world, took deliberate and realistic steps to arrest climate
change.

Prof Jonathan Narh Ayertey, the Council Chairman, UESD, said Africa had the resources in abundance to provide all the energy needed for development.

The University, therefore, would continue to engage stakeholders to enhance research, knowledge-sharing and technology transfer to provide alternative sources of clean energy on the journey towards net zero emissions.

Some stakeholders argued that the continent should not be compelled to undertake any risky venture in a way that will exacerbate the region’s struggling economies and create more poverty.

The Africa Finance Corporation, in a document calling for a pragmatic approach to achieving net zero in Africa, admitted that the continent accounted for less than four per cent of the current global greenhouse gas emissions.

The white paper, entitled ‘Roadmap to Africa’s COP: A Pragmatic Path to Net Zero,’ argues that there are limited benefits to be gained from reducing the region’s already far lower emissions.

The report concludes that instead of c
utting emissions, African nations will drive a far greater effect in combating global warming by focusing instead on three significant areas of change: localising, rebuilding and innovating.

It warns that worldwide momentum around climate action is likely to trigger dislocations in the global flow of capital, with unintended consequences for developing countries’ access to funds.

This is already apparent in the redirection of capital flows to middle-income countries to drive carbon emission mitigation, bypassing poorer and less polluting regions.

This must be taken into account in the making of a blueprint for a pragmatic transition for Africa that balances the continent’s very low emissions and development aspirations, while also ensuring that the region engages in a realistic global net-zero agenda.

Source: Ghana News Agency

The Monetary Policy Committee (MPC) has cut the policy rate, the rate at which the Central Bank lend to commercial banks, by a 100-basis point, citing disinflation as the reason.

The reduction in the policy rate was announced by Dr Ernest Addison, Governor, BoG, at the 116th Monetary Policy Committee (MPC) press briefing in Accra on Monday, January 29.

The Monetary policy rate is also an important tool for businesses, as it determines the interest rate on loans to businesses by commercial banks.

‘Headline inflation declined sharply by more than 30 percentage points in the course of 2023,’ he said.

Ghana’s inflation rate was 53.6 per cent in January 2023 but reduced to 23 per cent in December 2023.

Dr Addison explained that several factors had supported the disinflation process, including the tightening monetary policy stance throughout 2023, favourable international crude oil prices which led to stable ex-pump prices and transportation costs, and relative stability in the exchange rate.

‘The latest for
ecast suggests that the disinflation process will continue, and headline inflation is expected to ease to around 13 and 17 per cent by the end of 2024 before gradually trending back to within the medium-term target range of 6-10 per cent by 2025,’ he said.

The Governor, however, noted that there could be upside risks to the inflation outlook, hence, the need for strict implementation of the 2024 budget and a tight monetary policy stance to sustain the disinflation process.

In the banking sector, Dr Addison stated that the bank’s liquidity and profitability positions had improved in the aftermath of the domestic debt restructuring.

‘It is expected that early recapitalisation and effective risk management by banks will help promote overall banking sector stability and resilience and ensure effective financial intermediation to strengthen the economic recovery efforts,’ he said.

Speaking about domestic macroeconomic conditions, he indicated that there had been a gradual recovery in economic activity, due to
the positive results of the International Monetary Fund (IMF) Extended Credit Facility (ECF) programme.

‘Growth, however, remains below potential, requiring policy support, including help from the supply side,’ he said.

Source: Ghana News Agency

A Supreme Court Judge has advised Zongo youth to resist any attempt by politicians to lure them into committing violence, especially during this year’s electioneering campaigns and other electoral activities.

Justice Yonny Kulendi, said their resistance to political influence to commit violence would be the only way to tell politicians that the youth of Zongo was beyond violence and that they had something meaningful to offer their community and not violence.

Justice Kulendi gave the advice when he addressed scores of Zongo youth at the coronation of Alhaji Jamal Rabo, as ‘Sarkin Samari’ at Aboabo, in the Asokore Mampong Municipality.

‘Sarkin Samari’ literally means, President of Zongo Youth.

The theme for the occasion was ‘Reshaping Aboabo for Sustainable Development’

He said in previous political times, the Zongo Youth were mostly hired to perpetrate violence during elections and most of them were killed without any justice or compensation.

‘If politicians approach you for some untoward activities in
the impending elections, tell them to engage their children and family members,’ he told the youth.

He said Ghana had witnessed peaceful elections over the years and it was imperative to maintain and consolidate the tenets of democracy.

Justice Kulendi also advised Muslim families to avoid spending on lavish things and invest in their children’s future through education.

On his part, Alhaji Jamal Rabo said he was happy to witness his coronation as the ‘Youth President’ of Aboabo and promised to use that capacity to promote investments in the community.

Alhaji Abdul Ganiu Sholla, General Manager of Zuria FM, a Kumasi-based Hausa station, who was the moderator of the occasion, also advised the new youth head to be impartial in his dealings with the youth.

Source: Ghana News Agency

The Government proposed to waive tuition fees for undergraduate and PhD students in state universities enrolled in state-subsidized places. For this purpose, amendments to the Higher Education Act will be initiated and uploaded for public discussion on strategy.bg later in the day, the Government press office said on Monday.

The abolition of fees will facilitate access to higher education for all Bulgarian citizens, regardless of their social status and financial means.

The tuition costs will be provided by the state, explained Prime Minister Nikolay Denkov later in the day. Such changes have been in the works for several years, he added.

Education has always been a national priority and with the latest constitutional amendments it has been declared a national value, the press release notes. The measure is a continuation of the Government’s targeted policy to ensure accessible, comprehensive and quality education.

The measure also supports the Government’s fight against the demographic crisis.

Abolishin
g tuition fees at state universities would make them more attractive to students who are hesitant whether they should continue their education and life path abroad or in Bulgaria.

By abolishing PhD fees altogether, more young people would choose to pursue a career in science and build an academic career.

The measure will come into force this academic year.

The proposed changes also foresee that the Academic Councils of state universities will continue to set the application fees, but they will no longer have to be adopted by a decision of the Council of Ministers.

The Council of Rectors of Higher Education Institutions in Bulgaria supports free higher education for students, said its chair Lachezar Traykov at a briefing at the Council of Ministers. ‘On Wednesday we have scheduled a Governing Council, at which we will discuss in detail the proposed changes,’ he added. ‘We take this announcement as an invitation for a conversation that we have been initiating for a long time and we are glad that we are knoc
king on an open door with regard to the Prime Minister and the Government,’ Traykov noted.

National Representation of Student Councils President Daniel Parushev expressed support for this policy because it is important for every Bulgarian student and it will give many young people access to education despite the difficulties and inflation.

GERB MP Temenuzhka Petkova stressed that one of the most important priorities of the ruling majority is education. ‘We realize how important this topic is, so this proposal was discussed within the governing majority,’ she said.

Source: Ghana News Agency