YOUNG PEOPLE FIRST
As a young entrepreneur, I give priorities to young people: hiring young people, collaborating with young people, because we are the future.
I confirm that I am fully aware of the eligibility criteria, and based on its description, I am eligible to apply to the CSV Prize 2017.
The Kingdoms' Food Company-KI.FO.CO
Growth (the pilot has already launched and is starting to expand)
Annual budget in 2017 (USD)
Number of beneficiaries impacted so far
Headquarters location: Country
Headquarters location: City
Location(s) of impact
MADAGASCAR: Antsirabe, Betafo, Mandoto, Ankazomiriotra, Morondava, Ambositra, Fianarantsoa, Manakara, Antananarivo, Toamasina, Ambanja.
Problem: What problem is this initiative trying to address?
As a young man, born and raised in a struggling family, having fought against the hardships of life before I could find my way out to self-reliance, I have come to realize the great barrier that hinders young people from achieving their full potential.
There are great young people all around us who are desperate to have jobs, to create their own businesses or to launch their carriers, but the only thing that blocs them from realizing their dream is the lack for someone to kick-start.
Solution Summary: What is the proposed solution? What do you see as its most promising aspects for creating shared value?
I created a small business on food processing such as making cheese, peanut oil and chocolates, so that I could hire marginalized young people. Since my company is still small I only have 03 young men collecting milk, 04 making cheese, 03 making chocolates, 04 pressing peanuts, 08 marketing and selling cheese and chocolates in the Capital city, 02 delivering oil and ship cheese and chocolates to the Capital and to clients in other cities, 02 young ladies taking orders and keeping records. And there are only 03 older people assisting us in our raw material collections and our productions. All those people appreciate the fact that they have something to do while their friends waste their time doing nothing. They are well satisfied with the wages I give them and I try to offer them a fair deal so that they can stay motivated.
On the other side, I collaborate mostly with young farmers who produce cocoa, milk and peanuts. They supply me raw materials and I process them to give more values
Impact: What is the impact of the work to date? Specify both the social and the environmental impact of your work
Thanks to The Kingdoms’ Food Company-KI.FO.CO 26 young people could have jobs and a little less than 50 young farmers from different locations enjoy their fair trade with the company. While other young people work at franchised clothing companies, going out not seeing the sunrise and coming home not viewing the sunset, remunerated from 150000 MGA to 200000 MGA, our young people work from 8:00 am to 4:00 pm and they totally have fun and are enjoying it, with an average salary of 250000 MGA per month.
Farm produce collectors in Madagascar take too much advantage of the situation which totally robs farmers by setting the price of their produce very low. My participation may be small and my impact is not as big, but I can safely say that I have at least made a difference in a few people’s lives. I could manage to buy a kg of peanuts at 1800 MGA while others purchase it at 1200 MGA during harvest. Milk were always bought at 1000 MGA per liter, but I have set a fixed price at 1200 MGA.
Financial sustainability plan: How is this initiative financially supported? How will you ensure its financial sustainability long-term?
Since the beginning of my business I have never received any donations or grants. I have established it through my own efforts. The only thing that I have done besides utilizing the earned income is to ask for a loan from a local bank. I have paid all my dept last September. Today, I am only using my own money to run the business. I believe that my assets and capital are fairly enough to make things move forward as a small enterprise. I am totally sure that my initiative is financially sustainable. As time goes on I may be going to partner with investors. However, what matters most at this time is to get myself well-grounded in the activities that I am engaged in. I save 10% of my profit as safety, and the rest is used to maximize my productions. In fine, Annual Budget=100% Earned Income.
Unique value proposition: What makes your initiative innovative? How does your project differ from other organizations working in the same field?
There are three aspects that differ my initiative from other organizations and that makes it innovative:
I created KI.FO.CO because I wanted to help my fellow youths and not for the sake of money.
I have managed to distinguish my products from others' by inventing new products or new kinds such as peanut-chocolate bars made of a uniquely delicious peanut dough, cheese with spices and flavors, pure and clean oil.
My vision is to let the 80% farmer population of Madagascar know of their worth.
Founding story: Share a story about the "Aha!" moment that sparked the beginning of this initiative.
I started my entrepreneurial journey with cheese business. It was not easy to launch a product. There was a time when I would go out with a bicycle and deliver cheese in the Capital city. I only drink a bottle of small coke for lunch. I had to find clients. When I could not sell all of my cheese I did not know how to preserve them, so they got worms. I had to throw them away. I lost some of my funds that I have accumulated for years. Then I decided to find ways on how to take care of cheese. My cheese started to last longer. As a result of my hard work, the sweaty days biking up hills, rainy days pedaling, I could establish a wide range of cheese clients who became faithful clients that allowed to dramatically expand my business.
Today, I cannot even handle the demands on cheese. Restaurants, pizzerias and ordinary people keep on calling everyday. My business is totally on fire!
Where did you hear about the Nestlé Creating Shared Value Prize?