Timeline Feronia

Timeline

Historic timeline of Plantations et Huileries du Congo S.A (PHC), a palm oil business founded by the Lever Brothers in 1911.

1911

Huileries du Congo Belge (HCB) founded by Lever Brothers. Boteka plantation is established

1911 – 1930

Lokutu and Yaligimba plantation are established.

1960

Belgian Congo gains independence and becomes République du Zaire. The company renamed itself to Plantations Lever au Zaire (PLZ)

1996 – 1997

First Congo War, period of conflict in the country and the region.

1997

Zaire becomes the Democratic Republic of the Congo and the name is changed again, this time to Plantations et Huileries de Congo (PHC). 

1998-2003

Second Congo War, a period of conflict in the country and the region.

2006

First democratic elections in four decades.

2009

Feronia acquires PHC and its existing concessions.

2013

Investments and ESG loan from CDC Group (UK) (US$18,1 million).

2015

Debt finance agreement with European Development Finance Institutions: including Germany’s DEG ($16,5 million), The Netherlands’ FMO (US$16,5 million) and Belgium’s BIO (US$11 million). Also additional investment from shareholder CDC through equity.

2019

CDC provides an US$ 11 million loan.

2020

CDC provides a further bridge loan.   

KKM, an Africa-based and managed investment firm, injects US$15 million into the company and becomes its principal shareholder. The restructured business will no longer be quoted on the Toronto Stock Exchange.

CDC ceases to be an equity investor but remains lender alongside FMO and other European DFIs.

The ongoing Independent Complaints Mechanism (ICM) mediation process with local communities, will continue with the support of KKM, CDC and the other DFI lenders.