The Genesis of Resilience – Olam’s African Odyssey (1989–2026)
Honorable Minister Dr. Jumoke Oduwole, our distinguished Moderator Omar Ben Yedder, my esteemed fellow panelists Lawrence, Shanti, and René, and most importantly, the architects of the African future seated in this room.
We stand at a peculiar moment in global history
The “contracting global economy” we speak of today is not a mere academic phrase; it is a lived reality.
For too long, Africa has been a passenger on a financial vessel built by others, steered by foreign interests, and fueled by inherited models that often fail to account for the unique “weather” of our continent.
But today, we are here to talk about a different kind of navigation.
We are here to talk about financing “For Africa, by Africa.”
When I reflect on this theme, I cannot help but look back to 1989. It was in that year, right here in Nigeria, that Olam began its journey.
We did not start in the high-rise boardrooms of London or New York; we started in the heart of the Nigerian agricultural landscape.
At a time when many were looking for the exit, Olam saw an entry point. We understood then, as we do now, that Africa is not a “risk to be managed,” but a “frontier to be cultivated.”
Since 1989, Olam’s story has been inextricably linked with the African story. We have grown from a single-product operation into a global powerhouse, but our roots remain firmly planted in African soil. Why? Because we recognized early on that the traditional, inherited financial models—those rigid, collateral-heavy, short-term frameworks—were insufficient to scale the African ambition.
To scale a business in Africa, you need more than just “capital.” You need patient capital. You need inclusive capital. You need financing that understands the time it takes for a seed to become a harvest, and for a harvest to reach the global market.
Olam’s role in the African agricultural space over the last three and a half decades has been to bridge that gap. We have acted as a de facto financial and logistical engine for millions of smallholder farmers.
By providing off-take guarantees, input financing, and technical support, we created our own “adaptive framework” long before it became a buzzword.
We realized that if the banks wouldn’t lend to the farmer, we had to build the ecosystem that made the farmer creditworthy.
Part 2: From Food Security to Food Sovereignty – The Engine of Resilience
The theme of this session mentions housing, transport, and trade, but make no mistake: Agriculture is the foundation upon which all other pillars of resilience are built.
We often talk about Food Security—the idea that people should have access to enough food. But in 2026, “security” is no longer enough. Africa must pivot toward Food Sovereignty.
Food Security is about having food in the bowl; Food Sovereignty is about owning the land, the seeds, the financing, and the value chain that puts the food in that bowl.
It is the power of a nation to define its own agricultural and food policies without being subject to the whims of international market volatility or the “inherited models” of the West.
At Olam Agri, we see agriculture not just as farming, but as the ultimate engine of economic resilience. When we invest in a rice mill in Nasarawa or a flour mill in Lagos, we aren’t just processing grains; we are financing stability.
The Financing Gap in Agriculture
The current global contraction has shown us that when the world sneezes, Africa catches pneumonia. When foreign direct investment retreats to “safer” Western havens, our farmers are left stranded. This is why we need self-reliant financing.
- We need models that integrate Agric-Fintech to reach the unbanked.
- We need Blended Finance where private players like Olam work alongside developmental partners like CBZ Holdings and Anrong FZE to de-risk the sector.
- We need Commodity-Backed Financing that allows the African farmer to use their yield as their “gold standard.”
By rethinking financing to favor “Food Sovereignty,” we reduce our import dependency. Every billion dollars we spend importing wheat or rice is a billion dollars we are exporting from our own resilience. Olam’s mission has been to reverse this flow. By investing in local production and processing, we ensure that the “smart capital” we mobilize stays within the continent, strengthening our transport networks and fueling our trade through the AfCFTA.
Part 3: The Olam Yardstick – “What Doesn’t Get Measured, Doesn’t Get Done”
This brings me to the core philosophy that has guided my tenure and Olam’s operational excellence across the continent.
In the world of corporate and regulatory affairs, we deal with complex data, shifting policies, and vast networks of stakeholders. In such an environment, it is easy to get lost in rhetoric. But at Olam, we live by a singular, uncompromising yardstick.
As I have documented many times, and as we tell everyone of our partners: “What doesn’t get measured, doesn’t get done.”
If we say we want to “scale African businesses,” how are we measuring that scale?
If we say we are “strengthening agriculture,” how many bushels per hectare are we adding to the smallholder’s yield?
If we talk about “inclusive capital,” how many women and youth are actually holding the chequebooks?
Olam’s contribution to the nation’s agricultural space is defined by this measurement.
- Measuring Impact: We track the carbon footprint of our supply chains.
- Measuring Productivity: We measure the precise caloric output of our fortified foods to combat malnutrition.
- Measuring Economic Value: We measure the “Multiplier Effect” of every Naira invested in local processing—how it creates jobs in transport, how it builds demand for local packaging, and how it stabilizes the rural economy.
When we apply this yardstick to financing models, the flaws in the “inherited” systems become glaringly obvious. Traditional models measure “Risk” using Western metrics that don’t fit the African reality. They see a “lack of formal credit history” as a “High Risk.” We see a “30-year history of consistent harvests” as “High Opportunity.”
To rethink financing, we must rethink our metrics. We must measure “Resilience” alongside “Return.” We must measure “Sovereignty” alongside “Solvency.”
At Olam, our metrics are our roadmap. Because we measure the success of the farmer, the efficiency of the mill, and the transparency of the regulator, we get things done.
Part 4: The Call to Action – Mobilizing Smart, Inclusive Capital
In conclusion, let us be clear: The era of “Inherited Financial Models” is over. It expired the moment the global economy contracted and left Africa to fend for itself.
But this is not a crisis; it is an unveiling. It has revealed that the capital we need is already here, or it can be created by us.
To my colleagues at CBZ Holdings and Anrong FZE, our roles as “Progress Partners” are more vital than ever. We must move beyond the “lender-borrower” relationship and move toward “ecosystem partnership.”
What does a “For Africa, by Africa” model look like?
- It looks like integrated value-chain financing, where a single loan covers the seed, the tractor, the warehouse, and the transport to market.
- It looks like inclusive capital that treats the African SME not as a “small business,” but as a “future conglomerate.”
- It looks like policy-aligned investment, where the private sector and government (represented so ably today by the Honorable Minister) move in lockstep toward food sovereignty.
The Three Sizes of Success
The prompt for this session asks us to visualize branded snacks in three sizes: Small, Medium, and Large. Let us use that as a metaphor for our ambition:
- Small: We must finance the “Small”—the individual farmer and the micro-entrepreneur. They are the roots.
- Medium: We must scale the “Medium”—the local processors and the logistical startups. They are the trunk.
- Large: We must empower the “Large”—the national champions and the continental leaders who can compete on the global stage. They are the canopy.
Olam Agri has been here since 1989. We have seen the seasons change, the markets shift, and the models fail. But we have also seen the African spirit endure.
We have seen that when you provide an African entrepreneur with a model that actually fits their reality, the growth is not just incremental—it is explosive.
Let us leave this session not with more promises, but with more measures. Let us measure our progress by the strength of our food sovereignty and the independence of our capital
Because, remember: What doesn’t get measured, doesn’t get done.
Let us go out and get it done for Africa, by Africa.
