OLAM rewarded as the Multinational in Africa by the Africa CEO Forum Awards 2012
Sunny Verghese, managing director of the Olam group
November 22, 2012 : Olam, a Singapore-based company, has been rewarded as the Multinationa in Africa Award 2012 by the Africa CEO Forum. This award recognizes the international corporation boasting the greatest expansion in Africa over the last two years.
Olam has a direct sourcing and processing presence in most major producing countries catering to 12,300 customers across the world. Our global team of 18,000+ has built a leadership position in many of their businesses – including cocoa, coffee, cashew, sesame, rice, cotton and wood products.
The company handled 10.7 million tonnes of products for a sales revenue of S$17.1 billion in FY 2012. Headquartered in Singapore and listed on the SGX-ST in 2005, Olam currently ranks among the top 40 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the Straits Times Index (STI), MSCI Singapore Free, S&P Agribusiness Index and the DAXglobal Agribusiness Index.
Olam was rewarded on the following criteria:
- Number of organic or external growth operations in the last two years
- Number of African countries in which the company operates (with a minimum of five)
- Share of turnover achieved in Africa in relation to its global turnover
- Number of African employees on the continent
Diversity of its activities in Africa