WALLDORF, Germany, Nov. 7, 2013 /PRNewswire/ -- As part of SAP's commitment to help build more sustainable economies, four years ago PlaNet Finance and SAP AG (NYSE: SAP) came together to form the StarShea Network. Now the non-profit collective has transitioned to an incorporated, stand-alone business. Started in 2009 to help 1,500 women in rural Northern Ghana manage and grow their shea nut business, the newly named StarShea Ltd. has grown to a network of more than 10,000 women and emerged as one of the worldwide market leaders of organically produced and fairly traded hand-crafted shea butter.
Women shea nut farmers and butter producers often get a low rate of return on their product. Harvesting and processing shea nuts is arduous and a lack of information on commodity markets, limited financing options and poor supply chain traceability means producers are subject to market instability and limited ability to negotiate on price. To address these challenges, SAP and PlaNet Finance teamed up to create the StarShea Network by providing a combination of mobile technology, education and microfinance.
Now the non-profit network has become an independent social business with many customers, including multi-national corporations. StarShea Ltd. is modeled on the social business principles of Professor Muhammad Yunus, 2006 Nobel Peace Prize winner for his work creating a social bank in Bangladesh. Some preliminary business results include:
- With 62 metric tons of shea butter sold in its first year, StarShea Ltd. is one of the top four exporters in Ghana
- Star Shea Ltd. has engaged in collaboration with one the leading suppliers of fats and oils to the global food industry