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Deal #6621 Version #76383

Kenya
Created at
2018-11-26
Last update
2020-04-07
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

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

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [current] Concluded (Contract signed)

Implementation status

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).