At the Creating Shared Value Global Forum in Abidjan, Nestlé announced the winner of the Creating Shared Value [CSV] Prize 2016: Agro-Hub from Cameroon is the new prize laureate, and Natural Extracts Industries from Tanzania the runner-up.
Nestlé CEO Paul Bulcke highlighted in the context of the conference theme “Investing in sustainable development in Africa” that Agro-Hub has successfully linked smallholder cassava farmers to buyers. It has provided them with opportunities to generate significant and sustainable income. Agro-Hub receives 300’000 Swiss Francs to upgrade its cassava processing facilities.
Natural Extracts Industries, a social enterprise from Tanzania, was selected CSV Prize Runner-up for pioneering the sustainable extraction of vanilla and other natural flavours in Tanzania. Supporting rural development and sustainability, Natural Extracts Industries receives 200’000 Swiss Francs in prize monies to expand its network of smallholder farmers which supply natural flavouring ingredients.
This is the fourth time that Nestlé awarded the CSV Prize. The company will be opening the application process for the next competition in 2017, and again be looking for innovative businesses or social enterprises in the areas of nutrition, water and rural development.