Ellah Lakes signs agric deal with Ghanaian haulage firm, KJM

In a bid to expand its frontier beyond Nigeria, Ellah Lakes has sealed a deal with Ghanaian haulage and warehouse company, KJM Trading Limited.

The company is looking to tap into the agricultural value chains of KJM Trading Limited and take advantage of its network operation across Nigeria and Africa.

In a statement sent to the Nigerian Stock Exchange (NSE) on Monday, the company said it would make its products available to Ghanaians through its subsidiary called Ellah Lakes Ghana.

However, Ellah Lakes was silent on the value of the deal.

The statement read: “The agreement between the company and KTLG is subject to negotiation and execution of definitive documentation in more detail with the terms of their collaboration.”

READ ALSO: Three major Ellah Lakes stakeholders to sell off shares amid non-compliance with NSE rule

Ellah Lakes will acquire 20,000 hectares of arable farmland in Ghana in a bid to improve its exposure market in the neighbouring West African nation.

The Chief Executive Officer of the Nigerian palm oil producer, Chuka Mordi, who spoke on the deal, said Ghana is one of the three countries Ellah Lakes is planning to penetrate.

He said: “This is the first stage of our planned West African dominance and Ellah Lakes Ghana.”

In his reaction, the KJM’s Chief Executive Officer, Emmanuel Kojo Jones-Mensah, stated: “We are excited to be part of this next chapter of Ellah Lakes growth and look forward to putting our expertise and experience to use for a successful partnership.”

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