Nestlé has donated NGN15m (US$98,500) to help boost soy bean production in Nigeria.
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The company made the donation to the University of Agriculture Abeokuta, to fund the Soybean Popularization Project and Farm Family Health Initiative for farmers in the south-west part of Nigeria.
The move is part of Nestlé’s commitment to supporting farmers in developing countries, the spokesperson told just-food.
The company works directly with almost 600,000 farmers internationally and provided about CHF30m (US$29.8m) in aid last year.
“Nestlé has been providing support to farmers for many years. This commitment to rural development is an expression of the principle of ‘creating shared value’, which is part of Nestlé’s business strategy,” the spokesperson explained.
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By GlobalData“For a business to be successful in the long term, it must create value not only for its shareholders but also for society and communities at large, from farmers to employees to consumers.”
Last month, the Swiss food giant insisted it was “committed” to using only “sustainable” palm oil from 2015.
The company has, however, remained silent on reports that it is in talks to obtain Fairtrade certification for its Kit Kat chocolate bars.
