In a heartening move, WACOT Limited, a subsidiary of Tropical General Investments (TGI) Group, has recognized and rewarded 1,578 diligent cocoa farmers across 28 communities in Osun State. Each farmer received up to N40,000 as a token of appreciation for their unwavering commitment to sustainable cocoa production.
This bonus comes in addition to the regular payments made for the cocoa they supplied as part of the outgrowers’ program. What sets these farmers apart is the exceptional quality of cocoa they provide to WACOT, surpassing even the stringent international standards for sustainable cocoa production. These standards encompass crucial aspects like excluding child or forced labor, judicious use of fertilizers and pesticides, proper tree maintenance, and preserving protected reserves.
The momentous occasion was marked by the Cocoa Farmers Premium Payment Award event on Thursday, August 31, 2023, at Akeredolu Community, Osun State. Speaking at the event, Yosola Onanuga, the Corporate Responsibility and Sustainability manager of WACOT Limited, shared, “This award was given in recognition of the farmers’ invaluable contributions to the outgrower program initiative. Farmers were bestowed with bonuses ranging from ₦30,000 to N40,000, with some even receiving as high as N100,000, all based on their commendable efforts towards sustainable cocoa production.”
Highlighting their commitment to responsible cocoa sourcing, Onanuga added, “We are reshaping our cocoa specifications to establish a supply chain that adheres to Nigeria’s legal requirements and the expectations of our cocoa export markets. We are steadfast in our mission to champion sustainable cocoa production through various initiatives in collaboration with our partners.”
Bibhu Nanda, the Chief Operating Officer of WACOT Ltd., applauded the cash awards, affirming that they were well-deserved for farmers who have wholeheartedly embraced sustainable cocoa production in alignment with WACOT’s vision and international best practices. This gesture not only recognizes their hard work but also encourages a brighter and more sustainable future for cocoa farming in Osun State.
