WACOT Limited, a subsidiary of Tropical General Investments (TGI) Group, has awarded over N150 million in sustainability differentials to more than 3,500 cocoa farmers across 28 communities in Osun State, recognizing their commitment to sustainable cocoa production. This bonus supplements payments for cocoa delivered to WACOT as part of its sustainable cocoa initiative, which underscores the exceptional quality of cocoa produced by these farmers, meeting international sustainable production standards.
The Cocoa Sustainability Differential Award ceremony took place on October 12, 2024, in Balogun Community, Ile-Ife, Osun State. During the event, Yosola Onanuga, Head of Corporate Responsibility & Sustainability at TGI Group, expressed gratitude to the farmers, stating, “We want to appreciate the farmers in our cocoa program for their commitment to sustainable farming practices. Sustainability is a core value at TGI, deeply embedded in our operational strategies. We thank the community for their unwavering support and dedication to improving sustainable practices in cocoa cultivation.”
Honourable Abiola Awoyeye, representing Ife Central Constituency in the Osun State House of Assembly and Chairman of the House Committee on Youths, Sports, and Special Needs, emphasized WACOT’s vital role in supporting farmers. “WACOT’s initiatives in supporting farmers are crucial to the development of our agricultural economy. The company provides essential tools and training to help farmers enhance the quality of their cocoa produce, which is vital to Osun State. We are grateful to TGI and WACOT for their support,” Awoyeye stated.
Beneficiary Fawole Christianah shared her personal success story, saying, “Before I became a member of the WACOT cocoa initiative, my yield was low, and I couldn’t sell enough to provide for my family. But that’s not our story today. I can boldly say we are doing better than we could ever imagine. I have not heard of other companies paying farmers extra for doing the right thing. We are grateful for all WACOT has done for us.”
WACOT’s substantial funding is part of its corporate responsibility and sustainability strategy, which emphasizes respect for people and the improvement of local communities. TGI’s sustainability programs include structured outgrower farming initiatives across various value chains, including cocoa, cotton, rice, and sesame. The program provides smallholder farming groups and cooperatives with easy access to quality agro-inputs, training on Good Agricultural Practices (GAP) and Yield Enhancement Techniques (YET), and the purchasing of produce at market prices with immediate cash payments.
Tropical General Investments (TGI) Group is a global conglomerate with significant investments in emerging markets. TGI focuses on driving inclusivity and value addition by utilizing locally sourced raw materials, state-of-the-art manufacturing facilities, and a highly skilled workforce to produce world-class products for local consumption and export. TGI Group is the parent company of WACOT Rice, CORMART, and CHI Farms, among others.
