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Deal #6621 Version #76380

Kenya

Created at

2018-11-26

Last update

2020-02-28

Last full update

2022-09-05

Land area

Size under contract (leased or purchased area)

[2010-09-28, current] 40468.0 ha

Comment on land area

The company leased 100,000 acres.

Intention of investment

[current] Food crops, Livestock

Comment on intention of investment

The Galana project will include a sugar farm, dairy farm and horticulture

Nature of the deal

Lease

Negotiation status

[current] Concluded (Contract signed)

Implementation status

Project not started
[current] Project abandoned

Comment on implementation status

In 2015 investors took a Saudi prince to court accusing him of failing to deliver his side of the bargain

Leasing fees

Comment on leasing fee

Arafco Agricultural Integration Company Ltd paid an initial lease of Sh2,000,000. Upon the acquisition, the prince was to refund $300, 000 (Sh30 million) for the land. Local investors said they opened an account at Equity Bank in anticipation of the prince’s money that never came. This information was obtained from an informal source (media).