unlocking the cash in cashew the olam factor by sotonye anga

1989OLAM was founded in Nigeria

05/03/2023 2sotonye anga email: anga4000@yahoo.com

Mono product company

Began business trading in cashew nuts

Start small, grow big

Very humble beginning

Power of focus

Remained focused and steadfast in the cashew business

Within few years OLAM had expanded its sourcing of raw cashew nuts to cover the cashew producing areas in the country

1. Superior logistics2. LBAs3. Farmers4. Credibility

What worked for OLAM:

Logistics

Built on the strengths ofsuperior logistics

Created a robust network of local buying agents (LBAs)

Connect with farmers

Deep relationship with farmers

Credibility

Access to fund based on credibility 05/03/2023 11sotonye anga email:

anga4000@yahoo.com

Raw means limited market

Exporting raw cashewnuts to Indiaand Vietnam

Export of raw commodities is a fast way to make quick returns but hurts the economy on the long term

These are the

implications

No need to tie up cash in building

infrastructure

No need for large workforce

Operational cost is low

You are flexible and do not need to be committed to any country

We export our jobs when we

export raw commodities

Loss of revenue that would

have accrued from value

addition

We cannot realize the

full potential of the crop

We cannot

build our cashew industry

Market is limited

We are at the mercy

of few importers

The industry is

endangered

Cashew farmers in the country will be impoverished

Exporting raw

commodities hurts our economy

Nigeria cannot develop if we continue to export raw

commodities

Nigeria cannot prosper as No 1 exporter of raw

commodities

Nigeria’s youth unemployment

levels will remain high if

we continue to export raw

commodities

Continuous export of just

raw cashew nuts means danger to

the Nigerian economy

What OLAM did differently

OLAM did some

backward integration

2004 OLAM began

cashew processing in

Nigeria

Establishing cashew

factories in Kwara and Oyo

States of Nigeria

Impact of OLAM’s cashew

processing operations in

Nigeria

Encouraged urban to

rural migration

Boosted economic

activities in rural areas

Created over 5,000

jobs for Nigerians

Over 80% of the jobs went to women

This is why we say cashew is about

women empowerment

No other industry encourages

women employment in

Nigeria as cashew

OLAM TODAY

•Well diversified product mix•20 commodities in its

product line•Operates in 70 Countries05/03/2023 43sotonye anga email:

anga4000@yahoo.com

OLAM Unlocked

the cash in cashew05/03/2023 44sotonye anga email:

anga4000@yahoo.com

OLAM, the story of a new Nigeria05/03/2023 45sotonye anga email:

anga4000@yahoo.com

OLAM, success story for

Nigeria’s AGRIBUSINESS

Thank you

unlocking the cash in cashew the olam factor by sotonye anga

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