AYV News, April 10, 2025
In a major development poised to reshape Sierra Leone’s agricultural landscape, the International Finance Corporation (IFC), a member of the World Bank Group, has entered into a landmark US$12 million investment agreement with Pee Cee Holding Ltd (PCH), one of the country’s leading agribusiness and consumer goods enterprises.
The historic deal, unveiled during a high-profile signing ceremony on Monday April 7, 2025 at the Pee Cee Agriculture Farm in Lokomasama chiefdom, Port Loko district, marks the launch of Sierra Leone’s first large-scale, irrigated and mechanized farming project. The initiative is designed to tackle the nation’s dependency on imported food items, particularly onions, while enhancing the production of staple crops such as maize and potatoes.
Under the agreement, the IFC will provide a US$12 million loan to Pee Cee Agriculture, the agribusiness division of PCH, for the development of a 500-hectare commercial farm equipped with cutting-edge precision irrigation, advanced mechanization and modern storage infrastructure.
Upon completion, the farm is expected to yield over 40,000 tons of onions annually, along with considerable harvests of maize and other food crops. The investment is intended to create a climate-resilient, sustainable and self-sufficient agricultural ecosystem that benefits local communities and boosts the national economy.
IFC’s Regional Director for Central Africa and Anglophone West Africa, Madam Dahlia Khalifa, hailed the initiative as a groundbreaking example of sustainable agriculture in Africa.
“This is more than a farm; it is a beacon of innovation, resilience and impact,” she said. “With the support of Government, landowners and local communities, this project could not only end Sierra Leone’s reliance on onion imports but position the country as a potential export hub.”
Deputy CEO of Pee Cee Holding, Ms. Ekta Nandwani, speaking on behalf of her father and CEO Mahesh Nandwani, expressed gratitude to the IFC for its partnership and long-term support.
“From importing consumer goods to cultivating our own food, our journey has been one of growth and transformation,” she said. “This farm is an investment in Sierra Leone’s future. Our goal is to reduce reliance on imports, empower rural women, support the poultry industry with locally grown maize and build a sustainable value chain.”
She noted that IFC’s advisory services over the past four years had been instrumental in the company’s progress, helping increase onion yields tenfold during pilot stages.
Minister of Agriculture, Hon. Henry Musa Kpaka, also applauded the project, noting its alignment with the Government’s flagship “Feed Salone” initiative. He reflected on an onion crisis two years ago, pointing out how Pee Cee Holding had evolved from being the country’s largest onion importer to one of its foremost producers.
“Thanks to this strategic partnership and the technical expertise of IFC, we now see locally produced onions sold at prices lower than imported ones,” the Minister remarked. “This is the type of transformation Sierra Leone urgently needs.”
The project leverages PCH’s vertically integrated business model, which spans farming, storage, distribution and retail outlets across Sierra Leone, with extensions into Liberia and Guinea. This integrated network is expected to reduce post-harvest losses, stabilize food prices and improve food availability both locally and regionally.
Pee Cee Agriculture is also partnering with Njala University and the Ministry of Agriculture on research initiatives, training programs and capacity-building efforts aimed at equipping farmers with modern agricultural practices. Plans are also underway to introduce contract farming schemes to integrate smallholder farmers and provide them with technical support, further boosting the national food sovereignty agenda.
The first phase of an on-site processing facility is expected to be completed ahead of the next harvest season. Long-term plans include expanding crop varieties, targeting export markets and replicating the farming model across other regions of Sierra Leone and West Africa.
This landmark agreement between IFC and Pee Cee Holding marks a pivotal moment in Sierra Leone’s push for agricultural transformation, food security and economic growth.
