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Goldtree Sierra Leone

CFC invests in the development of organic palm oil in Sierra Leone

The Common Fund for Commodities (CFC) has signed a USD 1,000,000 Trade Finance loan with Goldtree Sierra Leone Limited, a company collecting and processing organic palm oil from its nucleus farm and outgrower scheme which are exported to Europe and Asia. 

With organic palm oil, Goldtree is targeting a market which, as a result of shiftingconsumer demand and the non-substitutability of palm oil in many products, has grownsignificantly in recent years. The Trade Finance loan will provide working capital and pre-finance the timing gap from palm oil production and processing up to delivery of the end-product to European and Asian buyers.

Apart from Goldtree’s own nucleus plantation, this investment is expected to expand local sourcing of organic palm oil  by purchasing fresh fruit bunches from outgrower farmers within a 40 km radius of the mill. This may support thousands of families in the rural community and ensure that they receive a fair price for their product. 

This investment, it is hoped, will not only add to the smallholders’ income, it will also encourages others to follow this traceable route for a deforestation free palm oil. This investment from CFC is expected to further increase the number of smallholder out-growers within the scheme during the five-year project duration.

The agreement was signed by Amb. Sheikh Mohammed Belal, Managing Director of the CFC and Mr. Jan Hein de Vroe, Director of Goldtree Sierra Leone Limited. Chief Operations Officer (COO) of CFC Mr Nicolaus Cromme was also present during the ceremony.

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