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Deal #5316 Version #72037
Ghana
Created at
2016-11-03
Last update
2020-11-23
Last full update
2020-08-07
Land area
Intended size
651 ha
Size under contract (leased or purchased area)
- [2001] 568.0 ha
- [2004, current] 651.0 ha
Size in operation (production)
- 405.0 ha
- [2016, current] 651.0 ha
Comment on land area
The company's nucleus farm is 1,363 acres (568ha). The company in 2004 acquired an additional 205 acres (83ha) at Gushie for its office accommodation and mango processing plant.
The area in operation derived from the Mapathon 2020, 691ha, seems too big.
Intention of investment
Intention of investment
- [2016, current] Food crops, Conservation (691.0 ha)
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
Nature of the deal
Lease
Negotiation status
Negotiation status
- [2001, current] Concluded (Contract signed)
Implementation status
Implementation status
- [2016, current] In operation (production)
Comment on implementation status
Derived from spatial data from the Mapathon 2020.
Purchase price
Comment on purchase price
In an interview with ITFC (2013), it was revealed that initial payments amounted to GH¢ 6,000 (part-payment for the land in 1999) for the 1,363 acres (568 hectares). The additional land for the factory was acquired at a cost of GH¢ 10,000 with an annual rent of GH¢ 100 per annum subject to periodic reviews.
Contract farming
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
Currently ITFC has 1,200 outgrowers over 1,200acres (500hectares) of land (i.e. 100 mango trees/acre/outgrower farmer). The company initially targeted 2000 outgrowers but realised that output fell below expectations and hence it suspended expansion in order to address low yields.
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.