BF Group: sustainable investment in Ghana

BF Group: sustainable investment in Ghana

 

BF SpA, the holding company of Bonifiche Ferraresi, one of the largest agricultural companies by cultivated area in Europe, announced that the subsidiary company BF International Best Fields Best Food Limited (Bfi) has started the corporate partnership with Musahamat Farms Limited, a Ghanaian company active in the agricultural sector and, among other things, in the cultivation and plantation of bananas. In particular, the parties established the company BF Ghana Limited, a corporate vehicle governed by English law controlled by Bfi and established for the development of agriculture in Ghana, to which the operational business unit of Musahamat was transferred (for the management of which a specific secondary headquarters is planned in the territory of the Republic of Ghana) which includes, among other things, approximately 260 workers, as well as the assignment, as a result of the authorization already issued by the Ghanaian government, of the concession for the cultivation of a The area located in the Volta River region covers an area of approximately 1,700 hectares.

 

Based on the agreements signed between the parties, BF Ghana will become the recipient of a further concession for the cultivation of an area located in the same region for an extension of approximately another 5,900 hectares. The 2024-2027 industrial plan, approved by the Board of Directors of BF Ghana, includes, among other things, the cultivation and production of corn, soybeans, wheat, rice, tomatoes, intended for the domestic market, and bananas, as well as investments for the construction and implementation of an irrigation system that will allow the extraction of water from the Volta River and will include trunk lines to transport and supply water throughout the arable area. The partnership with Musahamat in Ghana is part of the broader international development project of the BF Group.