Presco Owners SIAT Group Set to Expand Integrated Agriculture Ventures

News in Brief: 

— SIAT Group plans to expand its operations in Nigeria & Ghana, continuing its 30 years of investing in African agriculture.

— The organisation will strengthen its agribusinesses and support the people, investments and partnerships that have played a role in its development over the years.

To mark over 30 years of operating in Africa, SIAT Group plans to expand its integrated agriculture business in Nigeria and Ghana. The agro-industrial group, majority-owned by Tropicale NV, recently hosted the SIAT Forward event in Lagos under the theme, ‘Legacy, Leadership & the Future’.

Members of SIAT’s founding family, former directors and board members, company executives, financial partners and other stakeholders gathered to reflect on the group’s development and discuss its future direction.

SIAT’s Next Phase of Growth

Adewale Arikawe, CEO of SIAT Group, revealed that the leadership is focused on taking the business to the next level by building a larger and more impactful agricultural group.

“Our responsibility as a team is to take SIAT to the next level to build something bigger, bolder and more impactful,” said Arikawe. “SIAT remains committed to its integrated agriculture model, which covers sustainable cultivation, processing and marketing of agricultural resources. The Group is growing, and with that growth comes a greater responsibility to our people, our shareholders and all our stakeholders.”

Background of SIAT's African Operations

SIAT’s African operations began in 1991, when the group acquired Presco in Nigeria, under the leadership of Pierre Vandebeeck.

The group expanded its African footprint four years later, acquiring the Ghana Oil Palm Development Company in 1995. This expansion established the foundation for SIAT’s integrated agricultural operations across West Africa, with activities spanning plantation development, cultivation, processing and downstream operations.

Speaking on behalf of the founding family, Marie Vandebeeck said SIAT’s legacy was built not only on agricultural assets and production but also on the people who developed the business over the years.

“What Presco became today did not happen overnight. It is the result of decades of persistence, investment and the role of exceptional Nigerian organisations,” she said.

She said the founders had maintained the belief that it was possible to build a world-class agricultural business in Africa despite the risks and uncertainties associated with the sector.

Stakeholders Reflect on SIAT's Development

The Chairman of Presco Plc and Group Chief Executive Officer of Saroafrica International Limited, Rasheed Sarumi, said the event provided an opportunity to recognise individuals who had contributed to the group's development.

“For decades, this Group has grown across borders and generations through the vision of the founding family and the dedication of those who came before us and those who have carried that vision forward,” Sarumi said.

He said SIAT’s current position represented a continuation of the foundations established by previous generations. SIAT currently operates integrated agricultural businesses in Nigeria and Ghana, and as the group enters its next phase, its leadership says it will build on its existing agricultural platform while increasing the scale and impact of its operations.