Another source states 20 000 ha size under contract. In early 2020, communities took over some 300 hectares of plantation that had been abandoned after Feronia’s bankruptcy and started their own palm oil processing.

Another source states 20 000 ha size under contract. In early 2020, communities took over some 300 hectares of plantation that had been abandoned after Feronia’s bankruptcy and started their own palm oil processing.Feronia's company reports indicate that Feronia acquired its 10,000 ha farm around Kimpese from the owners of this company, who were given a 20% share of Feronia PEK in return.

oil palm plantations

Feronia initially acquired oil palm plantations from Unilever in 2009, with suspicions of corruption linked to a high-level Congolese politician.

Feronia PEK sprl is 80% owned by Feronia JCA (incorporated in the Cayman Islands, a wholly owned subsidiary of Feronia Inc). In June 2020 Feronia Inc. declared bankruptcy. Reportedly CDC invested $76.6 m. The Canadian holding company has gone bankrupt and the subsidiary’s assets are now in the hands of a Belgium-based firm called Feronia KNM, mostly owned by US-based private equity businesses. Another report says that Feronia may now be bankrupt and its Congo oil palm plantations in the hands of a new private equity player, who seems even more inept and ruthless than Feronia, but someone needs to be held to account. If "development finance" means anything, that accountability must rest with the development banks that bankrolled Feronia and the governments that are supposed to oversee them. In 2020, Gérard claimed that Strategos sold the mill and its rice operations to Bio Agro Business (BAB), a Congolese company deeply involved in the agricultural projects of President Felix Tshiseked In 2009, Unilever sold its stake in PHC’s 100,000-hectare (247,000-acre) oil palm holdings to the Canadian company Feronia, who received $150 million from European development banks to finance the venture. But after a decade of deep losses caused in part by a crash in the price of palm oil, Feronia declared bankruptcy. With assistance from the banks, in 2019 the bulk of PHR’s ownership was sold at a bargain valuation to Kuramo Capital Management (KCM), helmed and founded by Walé Adeosun, once a member of former U.S. president Barack Obama’s Advisory Council on Doing Business in Africa

Feronia PEK sprl is 80% owned by Feronia JCA (incorporated in the Cayman Islands, a wholly owned subsidiary of Feronia Inc). In June 2020 Feronia Inc. declared bankruptcy. Reportedly CDC invested $76.6 m. The Canadian holding company has gone bankrupt and the subsidiary’s assets are now in the hands of a Belgium-based firm called Feronia KNM, mostly owned by US-based private equity businesses. Another report says that Feronia may now be bankrupt and its Congo oil palm plantations in the hands of a new private equity player, who seems even more inept and ruthless than Feronia, but someone needs to be held to account. If "development finance" means anything, that accountability must rest with the development banks that bankrolled Feronia and the governments that are supposed to oversee them. In 2020, Gérard claimed that Strategos sold the mill and its rice operations to Bio Agro Business (BAB), a Congolese company deeply involved in the agricultural projects of President Felix Tshiseked In 2009, Unilever sold its stake in PHC’s 100,000-hectare (247,000-acre) oil palm holdings to the Canadian company Feronia, who received $150 million from European development banks to finance the venture. But after a decade of deep losses caused in part by a crash in the price of palm oil, Feronia declared bankruptcy. With assistance from the banks, in 2019 the bulk of PHR’s ownership was sold at a bargain valuation to Kuramo Capital Management (KCM), helmed and founded by Walé Adeosun, once a member of former U.S. president Barack Obama’s Advisory Council on Doing Business in Africa . The company, which received significant financing from European development bank. eronia's company reports indicate that Feronia acquired its 10,000 ha farm around Kimpese from the owners of this company, who were given a 20% share of Feronia PEK in return. Company documents also show that Kinshasa-based Feronia JCA Ltd SPRL was managed by former Unilever plantation manager Raymond Batanga and was 20% owned by Bin Karubi until at least February 2014, when the company was disbanded and fused into the larger Feronia structure. This company was thus still in operation well after the CDC Group and the African Agriculture Fund (a Mauritius-fund managed by Phatisa and owned by numerous development banks) began investing in Feronia.

produces 41,000 tons of palm oil annually

produces 41,000 tons of palm oil annually The company's involvement in rice farming in Bas-Congo aimed to reduce the country's dependence on food imports but was abruptly discontinued in 2017 after investing at least US$14 million. Later, Feronia filed for bankruptcy, and its oil palm plantations were handed over to a private equity fund in 2020.

Feronia purchased shares in the project from PEK Sprl in 2010.

Feronia purchased shares in the project from PEK Sprl in 2010. The Feronia PEK farming business was 20% owned by Plantations et Elevages de Kitomesa, a local company that appears to be owned by the Tuluka family (a.k.a Yaya Groupe).