Economic

Profit

  • Income Growth for Farmers: Our investment has strengthened over 1,000 cashew farmers' economic stability by offering a consistent and reliable market, enhancing their earnings and contributing to regional poverty alleviation and welfare improvement.
  • Employment Opportunities: The launch of the processing plant in Benin City generated 129 new jobs, catalyzing community economic advancement and family support.
  • Market Development: The acquisition of 1,500 tons of RCN has established a resilient market, motivating farmers to broaden their cultivation scope, which in turn amplifies agricultural productivity and local market possibilities.

Increased Income for Cashew Farmers and Market Expansion:
The economic prosperity brought about by the project is reflected in:

Goal 1

No Poverty by increasing the income levels of farmers, thereby reducing poverty in the region.

Goal 8

Decent Work and Economic Growth again, as it supports productive activities, decent job creation, entrepreneurship, creativity, and innovation, and encourages the formalization and growth of micro-, small- and medium-sized enterprises including through access to financial services.

Job Creation: The creation of new jobs directly affects

Goal 8: Decent Work and Economic Growth by providing decent work opportunities and contributing to the economic growth of the local area.

Market Expansion: This aspect of the project supports:

Goal 8: Decent Work and Economic Growth by aiding in the expansion of production and markets for cashew farmers, further contributing to economic growth.

Abrod's strategic $1 million investment in Nigeria's cashew sector from its Proof of Concept in April 2022 in which over 50 members of the diaspora (UK/EU/Switzerland) community participated in has led to improvement in sourcing premium Raw Cashew Nuts (RCN) in Ogbomosho and Edo North.

This initiative has significantly benefited over 1,000 local cashew farmers and has helped provide cashflow to the processing facility with a daily capacity of 24 metric tons, providing direct employment to 129 individuals and indirectly supporting over 1,000 farmers at peak production.

Environmental

Planet

Adoption of Eco-friendly Farming: The initiative promotes sustainable farming practices among cashew farmers, aligning with organic cultivation, water conservation, and waste management, thus contributing to local environmental health and long-term ecological balance.

Sustainable Farming Practices:
The project’s promotion of sustainable agricultural practices aligns with:

Goal 12

Responsible Consumption and Production by ensuring sustainable management and efficient use of natural resources.

Goal 13

Climate Action by integrating measures to prevent and reduce environmental degradation.

Skill Development and Empowerment of Local Communities:
The enhancement of skills and empowerment of communities through the project correlates with:

Goal 5

Gender Equality by promoting women's full participation in leadership and decision-making in the cashew value chain.

Goal 8

Decent Work and Economic Growth by fostering job creation and promoting a safe and secure working environment, especially for women.

Inclusion

Committed with Financial Inclusion

At Abrod we foster equal opportunities in all our policies and processes. We are committed to giving our Diaspora customers access to useful financial products and services that meet their every need and also providing them the opportunity for supporting charity projects.

Abrod 2024

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