Deal #1839

Former government farm- belonging to Korea Tanzania Company (KOTACO) and then to RUBADA. In July 2010, Agrica, was granted Strategic Investor Status by the Tanzanian government. The Strategic Incentives include exemptions from taxes and duties on fuel and imported equipment, including Agrica’s biomass plant and irrigation system. The plantations are for sale (2019) after defaulting on several loans (US$20m loan from the US Overseas Private Investment Corporation (OPIC) and US$5.6m loan from Tanzania’s National Microfinance Bank). Kilombero Plantations Limited general manager Graham Anderson confirms that the company has ceased operations in Tanzania after registering losses for three consecutive years, from 2016 to 2018