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It may appear to be a simple signature, but it is much more. Today, August 30th marks the start of a new era. This historic moment will live on in our hearts always. For the first time, we signed a joint venture agreement between the spice farmers’ cooperative CHAUWAVIMU AMCOS LTD and SAT Holistic group ltd.
First of all, what is a joint venture exactly and is a joint venture the right move for the farmers?
A joint venture is a business relationship and strategic alliance between two or more entities in which all parties retain their distinct identities, rather than merging with each other. So, we have two sides which are the social business SAT Holistic Group Ltd and the spice farmers’ cooperative.
CHAUWAVIMU AMCOS LTD is the union of numerous organic spice farmers groups on the slopes of the Uluguru mountains in Morogoro District.
Now, with this agreement our farmers are shareholders. Farmers have access to the lucrative market, more accurate data, increase their household earnings and improve their livelihood.
A joint venture agreement is the right move for the farmers, besides all the benefits but farmers also will receive training on how to increase their productivity using improved agroecological practices (capacity building), third-party organic certification and further the environmental protection of Uluguru Mountains. The agreement will be in place for a five-year period and will be renewed dependent on each party's involvement.
The occasion was attended by board members of CHAUWAVIMU AMCOS LTD, the CEO of SAT Holistic Group ltd, the District Cooperative Officer from Morogoro DC, and SATStaff as witnesses. The agreement explains the responsibilities of SAT Holistic group ltd as the buyer, responsibilities of the cooperative, time of the agreement, penalties for not meeting the goals, insurance policy and all other policies
Following the signing of the agreement, CHAUWAVIMU AMCOS Ltd's chairperson expressed his gratitude to SAT Holistic Group Ltd and that the cooperative will be responsible for implementing the ICS system, assuring that all farmers are producing to “organic standards”. With this organized formation and all information on place we can market their good for a premium price.