Deal #3433 Version #92001

Fermes de la Teranga (Ex SenHuile)/African Agriculture, Inc (AAGR)

As the project was transferred, new investors came in, including the Italian Tampieri Financial Group. Lawsuits filed by company partners against each other and in 2017, the Italians pulled out. Previously known as Senhuile-Sénéthanol, now known as Les Fermes de la Téranga. Les Fermes de la Teranga (LFT) is an anonymous company with a capital of 3.2 billion FCFA. The shareholder is composed of Mr. Gora Seck and Global Commodities, a Baar-based Swiss company. LFT has already invested more 3 billion to strengthen its system irrigation in addition to the 13 billion already invested since its creation in the development and equipment. Today, there are reports that Les Fermes de la Téranga, the name of the new company that took over Senhuile and occupies its headquarters, is another front for financial mischief. Six years later, Frank Timis, a well-known Romanian businessman allegedly involved in a corruption scandal in Senegal, bought the company through African Agriculture. His plan was to grow mainly alfalfa as livestock feed for domestic distribution and export, including to the United Arab Emirates and Saudi Arabia. Registered in the Cayman Island' Registered in the Cayman Islands, AAGR renamed Senhuile as Les Fermes de la Teranga (LFT), or “The Farms of the Teranga,” a Wolof word meaning “hospitality.”