And now we have a winner!
Agro-Hub from Cameroon is the new prize laureate of Nestlé’s Creating Shared Value [CSV] Prize 2016. The announcement was made at the Creating Shared Value Global Forum in Abidjan, Cote d’Ivore.
Last month, Nestlé announced Agro-Hub as one of the finalists for the Creating Shared Value [CSV] Prize 2016 at the opening of the World Humanitarian Summit in Istanbul. This makes the other finalist, Natural Extracts Industries (NEI), a runner-up.
Agro-Hub is an agricultural production and marketing agency in south-west Cameroon working to help small-scale farmers gain access to sustainable markets whilst NEI is a social enterprise pioneering sustainable extraction of flavors in Tanzania.
Nestlé CEO Paul Bulcke highlighted that, in the context of the conference theme “Investing in sustainable development in Africa,” Agro-Hub has successfully linked smallholder cassava farmers to buyers. It has provided them with opportunities to generate significant and sustainable income.
As prize, Agro-Hub receives 300’000 Swiss Francs to upgrade its cassava processing facilities.
As a runner- up pioneering the sustainable extraction of vanilla and other natural flavours in Tanzania, NEI receives 200’000 Swiss Francs in prize monies to expand its network of smallholder farmers which supply natural flavouring ingredients, thereby supporting rural development and sustainability.
“Both programs stand out for providing social-economic benefits to smallholder farmers in Sub-Saharan Africa and increasing commercial value locally in the production of vanilla and cassava” says Nestlé CEO Paul Bulcke. “They reflect good examples of how the private sector can contribute to increasing livelihoods in Africa.”
Interest in the development of SMEs and their contribution in the development process continue to be in the forefront of policy debates in developing countries. The advantages claimed for SMEs are various, including: the encouragement of entrepreneurship, the likelihood that small businesses will utilize labour intensive technologies and thus, have an immediate impact on the employment generation.
More importantly, they can usually be established rapidly and put into operation to produce quick returns.
This is the fourth time that Nestlé has awarded the CSV Prize. The company will be opening the application process for the next competition in 2017, and is on the lookout for innovative businesses or social enterprises in the areas of nutrition, water and rural development.
For more information about the CSV Prize: click