Please note: you are viewing an old version of this deal. The current version can be found here: Deal #5316

Deal #5316 Version #72030

Ghana

Created at

2016-11-03

Last update

2017-04-24

Last full update

2024-11-14

Land area

Intended size

552 ha

Size under contract (leased or purchased area)

[2001] 552.0 ha
[2004, current] 635.0 ha

Size in operation (production)

[current] 405.0 ha

Intention of investment

[current] Food crops, Conservation

Comment on intention of investment

Future possible crops include: Butternut squash, citrus, maize. Some of the land will be a designated biodiversity zone.

Nature of the deal

Lease

Negotiation status

[2001, current] Concluded (Contract signed)

Implementation status

[current] In operation (production)

Contract farming

Yes

Not on leased / purchased (out-grower)

Yes

Not on leased area/farmers/households (out-grower)

[current] 500.0 ha

Comment on contract farming

The Company committed to establish outgrower schemes in their operational communities. As part of their investments into the outgrower schemes, ITFC Ltd reserved the sole right to supply mango seedlings, water, water storage tanks, manure, tools and other technical support to outgrowers, and to be sole purchasers of their proceeds until the cost of production was fully recovered. Under the outgrower scheme, ITFC Ltd fully pre-finances the cost of mango planting and management until the third or fifth year when it may be possible to commence harvesting and sale.