After defaulting on loans, Kilombero Plantation Ltd goes up for sale

Kilombero Plantation Ltd (KPL), the Tanzanian subsidiary of the Guernsey-registered Agrica Ltd., is up for sale after defaulting on loans from several financial institutions. KPL, heralded as the “best in class” player in the field of socially responsible agribusiness investments in Africa, received support from several development institutions, including Norfund, DfID, and the US-based Capricorn Investments. The Oakland Institute’s 2015 report, Irresponsible Investment: Agrica’s Broken Development Model in Tanzania, exposed the flawed development strategy and the heavy toll of KPL’s rice plantation in Tanzania’s Kilombero Valley on the local farmers.

farmlandgrab.org | After defaulting on loans, Kilombero Plantation Ltd goes up for sale