Please note: you are viewing an old version of this deal. The current version can be found here: Deal #3005

Deal #3005 Version #58191

Sierra Leone
Created at
2013-02-15
Last update
2021-06-28
Last full update
2021-03-25

Land area

Intended size
46 000 ha
Size under contract (leased or purchased area)
  • [2010-05-14, current] 41582.0 ha
Size in operation (production)
  • [2013, current] 870.0 ha
Comment on land area
diverging information: according to an interview (OI) 43,000 ha + “maybe” seeking more land”; 46,000 ha according to one investor's website; Size under contract: "Who is benefitting?" Sierra Leone Report (2013). Grain report states 80 000 hectares. By 2018 possibly 3,843 hectares of palm trees planted (still being confirmed).

Intention of investment

Intention of investment
  • [2010-05-14, current] Agriculture unspecified (41582.0 ha)
Comment on intention of investment
Palm oil plantation for comestible oil for local market/for agrofuels and soap

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [2010-05-14] Concluded (Contract signed)
  • [2018-11-05] Failed (Contract cancelled)
  • [2019, current] Intended (Under negotiation)
Comment on negotiation status
the company negotiated its lease directly with chiefs and landowners. After neglecting to pay rental fees to the community, a court order (dated 5th November 2018) ruled in favour of the communities that the investor must hand the land back to the communities and pay $250 000 in unpaid rental fees. Despite the court order, the community remained with their lands cleared and no lease fees. They started looking for a new partner. Since 2019, Planting Natural, Sierra Organic Palm has showed interest in leasing part of the concession (previously under production) and have asked NAMATI to draft a land lease agreement.

Implementation status

Implementation status
  • [current] In operation (production)
Comment on implementation status
The project planned to establish palm oil plantations on 40 000 hectares by 2017. The project has been taken over by Geoff Palm.

Leasing fees

Annual leasing fee
2
$
per ha
Comment on leasing fee
US$2 per hectare per year; 5 per cent of net profit to be paid each year to community development fund. Information from contract.