Deal #10249

The signing of the lease agreement between the Municipality of Fass Ngom and Sen-Huile for 5,000 hectares of land for agricultural purposes, with an annual rent of 40 million FCFA, has raised concerns due to the perceived low amount. Senhuile SA was set up in Dakar on 26 July 2011, at the same address as Senethanol, with an initial capital of CFA 10,000,000 (€15,220). According to its majority shareholder, the Tampieri Financial Group, Senhuile’s mission is “to obtain concessions for sunflower seed production for export to Italy”. Two shareholders directly control Senhuile: Tampieri Financial Group SpA (51%) and Senethanol SA (49%). Tampieri Financial Group is a large, family-owned holding company set up in Italy in 1965. Alan Kessler (CEO)will acquire 5% of shares if the IPO proceeds