Deal #4927

Location #1

Spatial accuracy level
Administrative region
Location
Yamoussoukro, Côte d'Ivoire

Target country
Côte d'Ivoire
Comment on location
Located to the east of Yamoussoukro in the Bocanda region. 100km from the Yamoussoukrou to Abidjan motorway (25km earth track).

Land area

Intended size (in ha)
3000
Size under contract (leased or purchased area, in ha)
[2013] 1000
1300
Size in operation (production, in ha)
[2014] 764
[2015] 800

Intention of investment

Intention of the investment
Food crops, Forestry unspecified
Comment on intention of investment
Teak trees for “perimeter trees” offering protection against fire, wind and diseases. Banana is a “cover crop”. After the third harvest, the trees are cut down as they interfere with the cocoa's growth.

Nature of the deal

Nature of the deal
Lease
Comment on nature of the deal
sign leases ranging from 35 to 50 years

Negotiation status

Negotiation status
[2013] Concluded (Contract signed)

Implementation status

Implementation status
In operation (production)
Comment on implementation status
First harvest in October 2015 from the 800ha. Work is underway on part of the remaining hectares that includes cleaning the forest, planting, building roads, construction of camps, installation of irrigation, electrification.

Leasing fees

Comment on leasing fees
The communities receive rent corresponding to 5% of the revenues.

Contract farming

Contract farming
No

Contract #1

Duration of the agreement (in years)
35

Number of total jobs created

Jobs created (total)
Yes
Planned number of jobs (total)
3000
Current number of jobs (total)
[2015] 800
1000
Comment on jobs created (total)
Plus unknown number of seasonal workers

Operating company

Operating company
Comment on investment chain
The company listed on the stock market Alternex * Paris and Brussels to finance its project. The offer has generated gross revenues of 6.54 million euros, both with Institutional Investors and Retail Investors.

 

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Data source #1

Data source type
Media report
File
Date
2015-10-23
Comment on data source
Farmland Grab- Côte d’Ivoire : KKO International lève 6,5 millions d’euros pour ses 3 000 ha de cacao

Data source #2

Data source type
Research Paper / Policy Report
File
Date
2015-09-28
Comment on data source
Ecobank- Côte d’Ivoire: Cocoa plantation project raises as many doubts as opportunities

Data source #3

Data source type
Company sources
File
Comment on data source
Solea- Banana and Teak trees

Data source #4

Data source type
Company sources
File
Comment on data source
Solea- The plantation

Data source #5

Data source type
Media report
File
Date
2015-09-17
Comment on data source
4-Traders- KKO international S.A. to launch its inital public offering on the Brussels and Paris Alternext markets

Data source #6

Data source type
Company sources
File
Comment on data source
KKO International SA

Data source #7

Data source type
Media report
File
Date
2017-06-26
Comment on data source
Ouest France-- Des Français investissent dans le cacao en Côte d'Ivoire

Consultation of local community

Comment on consultation of local community
Several meetings were held- but it is not clear if it was free, prior and informed consent.

Promised benefits for local communities

Promised benefits for local communities
Health
Education
Other
Comment on promised benefits for local communities
well

Former land owner (not by constitution)

Former land owner
Community

Former land use

Former land use
Smallholder agriculture

Former land cover

Former land cover
Cropland
Forest land

Detailed crop, animal and mineral information

Crops area
Banana, Cacao, Teak

Use of produce

Has domestic use
Yes
Has export
Yes
Comment on use of produce
strong domestic demand, and a sub-regional and international market

Water extraction envisaged

Water extraction envisaged
Yes
Comment on water extraction envisaged
Drip irrigation

Source of water extraction

Source of water extraction
Surface water (River)
Comment on source of water extraction
N’Zi river

Overall comment

Overall comment
The funds raised through Alternex should be used to obtain land rights in new lands and their operations, the acquisition of additional human and material investment. Solea will turn the plantation into the first large- scale modern cocoa plantation in Côte d’Ivoire. Certified RainForest Alliance.

June 27, 2017, 6:30 p.m.

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Feb. 4, 2016, 9:04 a.m.

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