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Thursday, November 12, 2020

Ben & Jerry’s ice

cream boosts

payments to cocoa

farmers in Ghana,

Ivory Coast

GLOBAL ice cream

brand Ben &

Jerry’s has

pledged its

support towards

farmers in cocoa growing

markets of Ivory Coast and

Ghana through a new

partnership with Fairtrade.

Around 5,000 Fairtrade

cocoa farmers in the firm’s

supply chain are now receiving

approximately an additional

$600,000 over the next year.

This amount is on top of

the annual Fairtrade Premium

of around $970,000 and the

Ivorian government’s

minimum price for cocoa that

all companies are required to

pay. The extra money that

farmers will now receive is an

important part of Ben & Jerry’s

wider efforts to support

farmers towards closing the

living income gap.

As the company noted,

cocoa farming is an

unpredictable business, and

farmers bear the risk of losses

caused by climate change and

extreme weather patterns.

Smallholder

cocoa farmers

also have

virtually no

control over

global market

prices and are at

the mercy of

price volatility.

Inequality in the

cocoa chain

means farmers

are trapped in

extreme poverty

and can’t afford to

invest in more

progressive

farming methods to improve

their income or adapt to a

changing climate.

In turn, rural communities

are held back and the natural

environment suffers. A living

income is enough to provide

decent housing and health

care, clean water and education,

plus a little extra for

unexpected events, helping to

break the cycle.

The higher prices Ben &

Jerry’s will be paying are the

latest step in a package of living

income interventions that they

have implemented together

with Fairtrade since 2015. These

activities include productivity,

diversification and co-operative

strengthening which together

support a living income

strategy for the future.

The higher prices will be

closely monitored through

partners on the ground to

understand exactly how they

contribute towards a

sustainable livelihood for

farmers.

Ben & Jerry’s Global Values-

Led Sourcing Manager Cheryl

Pinto said: “We’re committed

to working for economic justice

through our ice cream, and

now we’re ramping up our

commitment with the cocoa

we buy. Starting with the cocoa

in our chocolate ice cream mix,

we’re working towards the

Fairtrade Living Income

Reference Price2 for cocoa

farmers, and this is the

beginning. We are exploring

living incomes in our other

global supply chains, too.”

Ben & Jerry’s purchases

across all commodities are

significant and have generated

$3.6m in Fairtrade Premiums

in 2019 for farming

communities to spend as they

choose. Many have funded

schools, and invested in climate

resilience and local

infrastructure.

Louisa Cox, Fairtrade’s

Director of Impact said: “It’s

complex work to advance

towards a living income, but

both organisations are

committed to this vision. Ben &

Jerry’s recognises the role of

business in addressing the

challenges in the

cocoa sector and

this commitment

sets a great

example for other

companies to

follow. So next

time when you’re

scooping up a tub

of delicious Ben &

Jerry’s chocolate

ice cream,

remember you’re

helping

supporting

farmers to build

better futures.”

• From le: Mr Lawrence Desouza, Markeng Director; Samuel Searyor,

Operaons Manager; Ing. Edem Fiakumah, Construcon Manager; Dr

Prince­ Joseph Ayiku, MD; Salah Kalmoni, Director and Mr Mohammed

Mustapha, all of Lakeside Estate

Lakeside Estate, 39 others

win CIMG 2019 awards

LAKESIDE Estate has been adjudged the

CIMG Real Estate Company of the Year

2019 at the 2020 edition of the Chartered

Institute of Marketing, Ghana (CIMG)

annual National Marketing Performance

Awards.

Currently, Lakeside Estate commands

a 40 per cent share of the real estate

market in the country.

This year’s CIMG awards, held in

Accra last Saturday on the theme:

“Marketing in a Disruptive Era”, is the

31st since its inception.

The event conferred honours on

businesses that had adapted their

approach and maintained their

standards of excellence regardless of the

Covid-19 pandemic.

Parts of the citation accompanying

Lakeside Estate’s award read: “Your vision

was to become one of the best customer

focused real estate company in Ghana

that will expand through the building of

unique variety of quality housing units

that are environmentally friendly. By the

estimation of our panel of evaluators, you

have left no doubts in their minds as you

delivered exactly on that promise.

“You are lauded for using in-depth

environmental analysis to establish

needs of clients and working at them,

thus becoming a listening firm.”

Premier award

The National President of CIMG,

Dr Daniel Kasser Tee, expressed concern

about the illegitimate award schemes by

unauthorised bodies in recognition of

marketing practitioners in the country.

“The CIMG has noted with great

disappointment and concern the

manner in which unauthorised bodies

have in the past organised their own set

of awards to recognise marketing

practitioners in this country,” he said.

Dr Kasser Tee said regulating the

standards and practices of Ghanaian

marketers was the sole preserve of CIMG.

“We wish to bring to the attention of

such bodies that with the passage of the

Chartered Institute of Marketing Ghana

Law, they require the express approval of

the CIMG as the sole professional body

mandated by law to set standards and

regulate marketing practice before

conducting such awards,” he said.

The awards

The Chief Executive Officer (CEO) of

Ghana Tourism Authority,

Mr Akwasi Agyeman, was adjudged the

Marketing Man of the Year 2019 for

making Ghana the tourism destination

of choice in Africa with the successful

Year of Return campaign, while the

Marketing Woman of the Year award

went to Patience Akyianu, Group CEO,

Hollard, Ghana.

In all, more than 40 corporate entities

and individuals that excelled at their

respective businesses and marketing

roles in the face of the COVID-19

pandemic and other challenges were

recognised and handed their shields at

the CIMG Awards 2019.

The CIMG Awards has been in

existence since 1989 and celebrates the

captains of industries and experts across

various sectors of the Ghanaian

economy.

The event honours businesses and

institutions whose performances impact

positively on society and the world at

large.

Ghana prepares for launch of new development bank

• Continued from Page 3

fact that the availability of long-term

funding for financial institutions in Ghana

is also strained.

But the document says that there are

other factors influencing banks’ decision to

limit loan maturities in Ghana, namely

economic uncertainties such as inflation

and interest rate volatility.

Countries across Africa have felt the

effects of COVID 19 and Ghana has been no

exception, suffering from a plunge in

external demand, as well as lower inflows

from tourism and foreign direct

investment.

According to the World Bank, Ghana’s

GDP growth is expected to slow from 6.5

per cent in 2019 to 1.2 per cent in 2020.

Last week, the IDA moved to bolster

funding for the country’s health care

system, injecting US$130mn into Ghana’s

Emergency Preparedness and Response

Project.

According to Laporte, the funding will

increase the availability of intensive care

unit beds in the country, and help Ghana

adopt new Covid-19 medications.

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