Lyly Foods
Lyly Foods, established in 2002, is a medium-sized agrobusiness making processed foods. The company has two business lines: the mainstream business line purchases inputs from traders and pays market rates (this line would not qualify as IB), and the second business line (established in 2018) works with contract farmers to produce dried-food snacks from vegetable and fruits.
The IB model targets poor and low-income households (20 per cent of the suppliers are very poor, 40 per cent are poor, and 40 per cent are low-income). However, the depth of the social impact is relatively small as the company only pays five to ten per cent above the going market rate. The company has not yet introduced social innovations to reduce the risks of the poor.
Its systemic impact on income generation in the region and the sector as well as on women empowerment is still low. However, the Lyly Foods management has a strong strategic intent to become more inclusive and business coaching could help the company be more inclusive.