The SIAT Group has announced a consolidation of its edible oil business in Ghana and Nigeria under Presco PLC.
This strategic realignment, driven by opportunities in the market, aims to make the consolidated business the market leader in sustainability, profitability, and size within sub-Saharan Africa.
The restructuring will integrate Ghana Oil Palm Development Ltd (GOPDC), Presco Plc (Presco), and Siat Nigeria Limited (SNL) under Presco Plc.
This move is expected to enhance GOPDC’s financial strength, enabling significant business expansion in Ghana.
Specifically, the strategy aims to increase palm cultivation from the current 60,000 hectares to 100,000 hectares, broadening the customer base and market reach.
Presco, SNL, and GOPDC will remain associate companies within the SIAT Group, continuing to benefit from the group’s technical and management expertise.
SIAT Group assured us that all obligations would be met promptly to ensure normal business operations were unaffected.
“This strategic move is designed to deliver enhanced long-term value to GOPDC by providing a strong platform for growth that can help bridge the supply gap in the local market and economy,” a statement released by the SIAT Group explained.
The implementation of this consolidation strategy is subject to regulatory approvals in both Ghana and Nigeria.
About SIAT Group
Societe d’Investissement pour l’Agriculture Tropicale nv. sa.(SIAT) is an agro-industrial group of companies specializing in the establishment and management of industrial, as well as smallholders’ plantations and allied processing and downstream industries. The main focus of the tree crops is on oil palms and rubber.
