In 2015, FMO provided a long long-term loan facility to Plantations et Huileries du Congo S.A (PHC), a palm oil business operating in the Democratic Republic of the Congo (the DRC).
PHC produces crude palm oil and palm kernel oil for domestic consumption. PHC is owned by Feronia Inc, a Canadian agribusiness.
The business currently consists of three palm oil plantations in Boteka (circa 4,000 Ha), Yaligimba (circa 8,000 Ha) and Lokutu (circa 8,000 Ha) which are all in remote areas of the Congo. The business supports the livelihoods of over 100,000 people (through the multiplier effect of direct and indirect jobs and the hospitals and schools that the company provides).
It employs over 8,000 people (permanent as well as seasonal) and is the largest private sector agribusiness employer in the country. The agriculture sector, given its ability to create large numbers of jobs outside the main cities, is a key priority area for the Congolese government.
Huileries du Congo Belge was founded in 1911 by Lever Brothers (Unilever) to supply palm oil to its Port Sunlight soap factory in the UK. In 1997, the name was changed from Plantations Lever au Zaire to its current name Plantations et Huileries du Congo Sarl (PHC).Read more