SOUTH AFRICA— Nestlé has announced its commitment to investing R2.5 billion ($131 million) over the next five years in black-owned businesses across eastern and southern Africa.
This is in an effort to foster sustainable procurement practices, develop supplier partners, and support agro-processing initiatives within Nestlé’s value chain.
The decision follows the recent Second Black Industrialists and Exporters Conference, held at the Sandton Convention Centre in South Africa, where various businesses, including Nestlé, collectively pledged over R261 billion ($13.9 billion) for procurement by both public and private entities.
According to Mota Mota, a spokesperson for Nestlé, the company is proud to collaborate with the Black Industrialists Programme, aiming to promote inclusive economic development in South Africa.
“We are proud to partner with the Black Industrialists Programme to promote inclusive economic development in South Africa. By investing in local talent and fostering entrepreneurship, we can build a more resilient and prosperous future for all,” he said.
This fund will be used for different initiatives, including coffee purchases, price premiums, technical assistance, and community projects.
In addition, Nestlé also vowed to invest an additional $20 million to support coffee-growing communities in Kivu, Democratic Republic of Congo (DRC), according to Guillaume Le Cunff, Nespresso CEO.
He also highlighted the potential of Kivu to become one of the world’s leading coffee regions, despite facing significant challenges in recent years.
“We have joined forces with several partners, including the Eastern Congo Initiative (ECI)/ASILI, TechnoServe, the US Agency for International Development (USAID), The Global Environment Facility (GEF), Clarmondial, International Union for Conservation of Nature (IUCN) and Virunga Coffee, to restore and revitalise Kivu as a leading source of high-quality, exceptional Arabica coffee,” he added.
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