The programme aims to empower 5,000 cocoa farmers socially and economically by 2025. By setting up the farmers direct cash transfers and the skills to diversify their income, Magnum said its commitment will help them to financially stabilise their families and build their personal business ambitions for greater prosperity in the off-peak cocoa farming season.
Magnum has worked in collaboration with NGOs on the ground in Cote d’Ivoire including 100WEEKS and CARE International to bring the impact programmes to life with over 200 female cocoa farmers benefitting from the programme to date, it claimed.
This year, a further 600 farmers will join the programme as it scales up. This provides them with direct and unconditional weekly cash transfers over the course of 100 weeks through their donated mobile phones, while also providing training to further their economic understanding.
Last month, 198 farmers graduated from the programme – which began in 2020 - having set up their own or invested in income-generating businesses through Magnum’s wider programme.
Ben Curtis, Director, Magnum said: “Since 2012, we have invested €80m in helping to make Magnum’s supply chains more sustainable. Through our impact programmes, we are putting additional focus on supporting female cocoa farmers as we know they are often at the heart of many families and communities. We are proud of the farmers who are graduating at the ceremony, which recognizes their work in creating a range of income generating activities."
Due to the seasonality of cocoa farming, the schemes have supported farmers in setting up additional income streams to supplement their cocoa farming.
Jeroen de Lange, founder and CEO of 100WEEKS, said: “The results of our programme are lasting. Each story of every woman reached is always moving, and not seldom heart breaking. We have truly broken the code of change of how people at family level can best move out of poverty”