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BRVM: PALM CI breaks all records for profits, sales and market capitalization

31/01/2023
Source : ORISHAS FINANCE
Categories: Index/Markets

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At the end of 2022, at the Abidjan Regional Securities Exchange (BRVM), PALM CI, the subsidiary of the Ivorian agro-industrial group SIFCA, broke all records for profits, turnover and market capitalization.

SIFCA, the largest producer of crude palm oil in the West Africa region, distributes 40 billion in profits to its shareholders out of a turnover of nearly 200 billion FCFA. The company produces more than 280,000 tons of crude palm oil per year, or 70% of Ivory Coast production. This company operates nearly 50,000 hectares of industrial plantations and obtains its supplies from 28,000 small planters. PALM CI is also the country's largest private employer, with 8,500 employees. SIFCA group Founded in 1964 in Abidjan, upstream of PALM CI, is the largest agro-industrial company in West Africa.

The group is present in 5 countries. It employs more than 29,000 people across more than three key agricultural value chains around the operation of palm oil plantations, the processing and marketing of vegetable oil, natural rubber, and sugar.

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