Please note: you are viewing an old version of this deal. The current version can be found here: Deal #3840

Deal #3840 Version #64106

Zambia
Created at
2013-06-27
Last update
2014-07-03
Last full update
2024-04-05

Land area

Intended size
5 866 ha
Size under contract (leased or purchased area)
  • [2012, current] 4380.0 ha
Size in operation (production)
  • [2008, current] 1173.0 ha
Comment on land area
NCCL’s assets consist of five estates on 4380 hectares of land in the Northern Province of Zambia. Approximately 1,580 hectares on three of these estates were previously cultivated for coffee production with dams, canals and reservoirs for irrigation.

Intention of investment

Intention of investment
  • [current] Food crops

Nature of the deal

Nature of the deal
Outright purchase

Negotiation status

Negotiation status
  • [2012, current] Concluded (Contract signed)
Comment on negotiation status
NCCL was formed in March 2011 to take over the assets of Kasama Coffee Company, which had been in receivership since 2008. ZDA and the indebted banks had been shareholders of NCCL until this acquisition.

Implementation status

Implementation status
  • [current] Startup phase (no production)
Comment on implementation status
1,580ha previously cultivated

Purchase price

Purchase price
6 150 000
$
for specified area
Purchase price area
5 866 ha
Comment on purchase price
A further US$40 million will be committed as capital expenditure and pre-operative expenditure to fully develop 2,000 hectares of Arabica coffee plantation over the next five years. The assets also include dry and wet processing facilities, warehouses, drip irrigation, employee housing and recreational centre, as well as a research centre.

Contract farming

Contract farming
No