GOPDC’s main sponsor is NV SIAT SA (SIAT), which owns controlling shares in the company. SIAT is a private Belgian holding company with oil palm and rubber plantations in Ghana, Nigeria and Gabon.

The shareholders of GOPDC are Government of Ghana – 20% and SIAT Ghana Limited (SIAT Ghana) – 80%. SIAT Ghana is a joint venture among SIAT (51%), the Social Security and National Insurance Trust (SSNIT; 30%) and the African Tiger Mutual Fund Limited (ATMF; 19%). SSNIT is a statutory pension fund established by GoG to manage the pension funds of public sector employees in Ghana while ATMF is an investment company registered in Ghana.

GOPDC’s overall investment program is up to 2014. The proposed IFC project (2007-2010) of the investment program is estimated at $25.4 million. The proposed IFC investment is a $10 million A loan and $3 million C loan (income participation) which will be used to finance GOPDC’s expansion and optimization program.

12.50 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	12.50
Equity

* These investment figures are indicative

The planting program will take place at the company’s existing plantation at Kwae and a recently acquired plantation at Okumaning, which is being rehabilitated. Both are in rural areas of Ghana. Okumaning is a divested state-owned enterprise land. Improvements in infrastructure will take place at the plantations as well as at the factory located at Kwae.

- The project will provide the company with long-term financing to increase production at its own plantation and improve its financial structure. In addition, GOPDC’s out-growers will benefit from improvement in the company’s liquidity and increased demand for palm fruits to meet expansion in capacity. This will encourage them to increase the number of outgrower farms. GOPDC purchases raw materials from about 7,200 outgrowers.

- The planting program will create additional employment for the community as more local farmers produce raw material for the program.

- Improving operation efficiency at the plantations and processing units.

- Increasing local value addition through the new refining/fractionating plant.

IFC will provide GOPDC with long-term financing which is necessary for a successful oil palm planting program which is otherwise difficult to obtain in the agricultural sector in Ghana.

IFC’s participation in the project and financial strengthening of GOPDC will enhance its appeal to possible commercial, technical and financial partners and may facilitate any future plans for a public listing on the GSE.

IFC’s support will encourage GOPDC’s ongoing program to be a local industry leader with regard to environment, safety and social standards.

As a result of IFC’s appraisal of the project, the following key social and environmental issues were identified:

- improved documentation of social and environmental management procedures, including data collection on key parameters;
- appropriate use of personal protective equipment;
- improvements in the wastewater treatment system of the mill to ensure acceptable discharges into local surface water; and
- mitigation of economic displacement associated with land acquisition for the Okumaning oil palm development project.

These issues can be addressed through known procedures, practices and technology. Once appropriate measures are taken for treatment of wastewater from the oil palm mill, impacts will be limited to the various project sites and will, in any case, be reversible. While economic displacement has affected a large number of farmers, GOPDC has been able to address livelihood restoration through its core business model, i.e., the out-grower scheme. Thus, this is a category B project under IFC’s Environmental and Social Review Procedure."