PepsiCo’s Derek Yach recently spoke with USAID about our unique, trilateral partnership with USAID and the United Nations World Food Program that was announced at the Clinton Global Initiative’s 2011 annual meeting in New York in September. A key achievement of the U.S. Government’s Feed the Future initiative, this partnership will help build long-term economic stability for smallholder chickpea farmers in Ethiopia by involving them directly in PepsiCo’s product supply chain.
In the interview, Derek explains Enterprise EthioPEA, “PepsiCo hopes to use chickpeas to address famine and malnourishment in the Horn of Africa, stimulate economic development in Ethiopia, and support PepsiCo’s business strategy for Africa more generally. Today, PepsiCo is one of the world’s largest manufacturers of chickpea-based hummus, a product that is experiencing rapid growth in demand. Chickpeas will play an important role in growing PepsiCo’s nutrition business to $30 billion in revenue by 2020. This is truly a great example of what we at PepsiCo call “Performance with Purpose.” The project will create new markets for products and increase yields for farmers while allowing PepsiCo to create healthier, locally sourced foods and beverages that benefit the whole community while driving long-term growth for the company.”