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COMMODITY NEWS<br />
PALM OIL<br />
Sierra Leone<br />
Private Equity Firm Transforms Palm Oil Business<br />
With a capital injection from global investors, a long-abandoned palm oil plantation and mill in Daru, Sierra Leone, is expected<br />
to produce over 5,000 tons of palm oil in <strong>2014</strong>. Goldtree mill buys in fruit from over 5,000 outgrowers where it is working<br />
on significantly improving fruit yields and technical skills on the farms. Phatisa is the fund manager of the African Agriculture<br />
Fund [AAF], which in turn manages the Goldtree investment on behalf of multinational investment partners. The Goldtree<br />
palm oil plantation and mill was the first agri investment of AAF, made in 2011. Phatisa’s AAF is a private equity fund focused<br />
on businesses in agriculture and the food value chain. To date, it has committed investments in excess of US$100m in 12<br />
businesses across the continent, reaching from Sierra Leone in West Africa to Madagascar in far East Africa, and a further<br />
8-countries in between.<br />
With an investment injection of US$20m and ongoing support from Phatisa agri specialists, Goldtree has been completely<br />
transformed. It now has a mechanised, safe and hygienic processing mill supported by stores, a quality control laboratory,<br />
holding tanks and a fleet of vehicles. Annual crude palm oil output should rise to 18,000 tons, supplying domestic and regional<br />
markets.<br />
[Howwemadeitinafrica.com 06/05/14]<br />
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