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Deal #2371 Version #57950

Sierra Leone

Created at

2013-02-15

Last update

2020-03-12

Last full update

2024-08-14

Land area

Intended size

30 000 ha

Size under contract (leased or purchased area)

[2011] 6575.0 ha
[2014, current] 17812.0 ha

Size in operation (production)

[2013] 3125.0 ha
[2014, current] 11057.0 ha

Comment on land area

The company officially obtained 6575 hectares in terms of the lease agreement (first phase). Land is continuing to be taken from the local communities. The company has additionally occupied 600 hectares illegally, not included in the lease. The plans are to have 12 000hectares planted by 2017/2018.The ultimate goal is to obtain 30 000ha. One source states that the company has 30 000acres- 12140 hectares under contract. Socfin annual report 2014 states 17812ha under contract and 11057ha in operation. Another source states 18200ha in total.

Intention of investment

[current] Non-food agricultural commodities, Agriculture unspecified

Nature of the deal

Lease

Comment on nature of the deal

Option to renew for a further 21 years. Another report states that the renewal period is for 25 years not 21 years.

Negotiation status

[2011, current] Concluded (Contract signed)

Comment on negotiation status

The company signed on the 5th March 2011 a sub-lease with the Government of Sierra Leone, which holds the lead lease with the chiefdom council.The lease appears not to comply with the country’s land law by providing a renewal option not for 21 years but for two periods of 25 years.

Implementation status

[2013, current] In operation (production)

Leasing fees

Annual leasing fee

12.5

per ha

Comment on leasing fee

The company pays US$ 5 rent per year per acre, with only half of it going to the land owners.