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Deal #4583 Version #68489

Ghana

Created at

2015-02-10

Last update

2020-06-25

Last full update

2020-08-07

Land area

Intended size

500 ha

Size under contract (leased or purchased area)

[2005, current] 500.0 ha

Size in operation (production)

[2014, current] 380.41 ha

Comment on land area

Sources mention various sizes under contract- 500 hectares to 600 hectares. According to the Daily Graphic, (May 3, 2014), the company as of 2014, operated on a 380.41 ha (940 acres) parcel of farm land.

Intention of investment

[current] Food crops

Comment on intention of investment

Specifically the company grows MD2 variety of pineapple

Nature of the deal

Lease

Negotiation status

[2005, current] Concluded (Contract signed)

Comment on negotiation status

In 2011 the company had liquidity problems and was forced to restructure their loans. In 2012 the company acquired new loans. After granting the loans the banks and shareholders also demanded to be kept updated with information of the current liquidity position and the future liquidity developments periodically. Actually, the company applied for the Skill Development Fund (SDF) in 2011 according to the Daily Graphic, (May 3, 2014). With a grant of 247920.00 Ghana cedis, the company increased its export capacity to 80,000 tonnes by the close of 2013

Implementation status

[2007, current] In operation (production)

Comment on implementation status

According to the Daily Graphic, (May 3, 2014), operations started in 2006. According to

Purchase price

Comment on purchase price

The company has been granted a tax exemption for the first 10 years of the company as it is located in the Ghana Free Zones.

Contract farming

Yes

Not on leased / purchased (out-grower)

Yes

Comment on contract farming

Out-growers to supply the company with mango and papaya.