June 29, 2021 / 09:23 AM / By NGX / Header Image Credit: Twitter; @ellahlakesplc
Ellah Lakes Plc. ("Ellah Lakes", or "the Company") today announces the signing of a Memorandum of Understanding (MoU) with KJM Trading Limited Ghana ("KTLG") for business development collaboration in Ghana.
Under the terms of the MoU, the parties will set out the broad framework of their intention to work together to facilitate the development of Ellah Lakes' business interests and operations in Ghana. This is part of the strategic plan to establish a presence in three other Anglophone countries in West Africa, starting with Ghana.
KJM Trading Ltd. is a private limited liability company incorporated under the laws of Ghana, focused on the enhancement of agricultural value chains with operations and a network across Nigeria and Africa. KJM Trading Ltd. renders services such as clearing, warehousing as well as haulage and transportation, which are designed to meet the global needs of import and export businesses. In addition, the company imports products for sale to their vast network of buyers and suppliers across Africa and have strong partnerships with local farmers for direct distribution of produce to the local and foreign market.
Speaking on the proposed collaboration, Mr. Chuka Mordi, Chief Executive Officer/Managing Director said "Ellah Lakes is very pleased to commence this Strategic partnership with KJM Trading Ltd. This is the first stage of our planned West African dominance and Ellah Lakes Ghana, a subsidiary of Ellah Lakes Pic will be set up as a result of this partnership. Under this partnership, Ellah Lakes will also kick off the process of securing 20,000 hectares of arable farmland in Ghana. We are certain that this partnership will strengthen and advance the transformation agenda of the Company."
Commenting, Mr. Emmanuel Kojo Jones-Mensah, Chief Executive Officer of KJM Trading Ltd. said "At KTLG, we aim to build a prosperous agriculture chain in Africa. 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".
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.