AgDevCo sells commercial farm to Ghanaian agribusiness

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BFC is a 356 hectare irrigated commercial farm developed by AgDevCo from greenfield. The project was a proof of concept to attract investors to the Babator Irrigated Farming Hub, an agricultural concession on the Black Volta River in the Savannah Region of northern Ghana, which could become the country’s largest irrigated farming and processing site once fully developed.

Oba Pack will produce onions for its processing facility in Tuobodom, in the neighbouring Bono Region. The company plans to grow over 7,000 tonnes of onions at BFC for sale in the domestic market, with potential for further expansion.

Oba Pack will also grow soya beans, in a sustainable crop rotation to promote good soil health. The soya will be sold to Ghana Nuts Company Limited, primarily for the local poultry feed industry.

BFC already employs 58 staff, of whom half are women, in a rural area with very little formal employment.

The number is expected to increase as Oba Pack expands. As the BIFH site attracts other commercial investors there will be further employment opportunities.

Alongside developing the BFC project, AgDevCo has been planting tree crops (including mangoes, cashew and moringa) at BIFH and promoting smallholder out-grower schemes.

With a further 5,000 hectares of irrigable farmland available at BIFH, AgDevCo is seeking other commercial investors. As demonstrated through rigorous commercial trials, BIFH is suitable for the production of a wide variety of crops, including grains, legumes, vegetables and fruits. There is especially high potential for irrigated bananas.

AgDevCo was assisted by Open Capital Group Limited during the tender process to sell BFC. Charles Russell Speechlys in the UK and SESI LEGAL in Ghana provided legal support.

– Finance.yahoo

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