Deal #5055

Ghana
Created at
2016-05-23
Last update
2024-11-23
Last full update
2024-11-23

Land area

Intended size
19 880 ha
Size under contract (leased or purchased area)
  • [2012, current] 19880 ha
Size in operation (production)
  • [2019, current] 7098 ha
Comment on land area
As per 31 Dec 2019, the company had planted 7,098ha: 5,013ha mature oil palm, 1,127 immature oil palm, 958 immature rubber. Grain mentions 23500ha concession with 2000ha planted. Company website states 18 880 hectares (Daboase) plus 1 000 hectares additional (Manso). The company's annual report mentions 18,303ha

Intention of investment

Intention of investment
  • [2012, current] Non-food agricultural commodities, Agriculture unspecified (19880 ha)
Comment on intention of investment
Production of Rubber and oil palm

Carbon offset project

Carbon offset project
No

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [2012] Concluded (Oral Agreement)
  • [2015, current] Concluded (Contract signed)
Comment on negotiation status
Socfinaf acquired entry and oral agreement in December 2012. Contract was only signed in 2015.

Implementation status

Implementation status
  • Startup phase (no production)
  • [2019, current] In operation (production)
Comment on implementation status
According to the 2019 Annual Report the company generated income from its oil palm activities, but not yet from rubber.

Purchase price

Purchase price
10 000 000
$
for specified area
Purchase price area
15 000 ha

Contract farming

Contract farming
Yes
Not on leased / purchased (out-grower)
Yes
Not on leased area/farmers/households (out-grower)
  • [2019, current] 1000
Comment on contract farming
In July 2019 the company announced funding to establish a processing plant. Outgrowers will provide raw material to the plant. Distributed seeds to 1000 farmers. In 2019 all FFB was sourced from the company's own estates.