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Vancouver, British Columbia – (July 17, 2026) – Maple Agro Farms Corporation, referred to as 'Maple Agro,' has announced the signing of a Letter of Intent (LOI) with Daasebre Mireku Afari II, Begorohene, Fanteakwahene and Benkumhene of the Akyem Abuakwa Traditional Area, and Custodian of the Begoro Stool Lands, along with the Chiefs and Elders of Begoro (collectively, the 'Traditional Authorities'). The agreement is for the proposed acquisition of a 50-year renewable leasehold interest covering approximately 10,000 acres (4,690 hectares) of agricultural land in the Republic of Ghana, specifically near Begoro in the Eastern Region.
This proposed leasehold is set to form the bedrock of Maple Agro's planned large-scale sustainable palm oil development in Ghana, marking a pivotal milestone in the company's long-term growth strategy. The leasehold is expected to facilitate the establishment of a commercial palm oil plantation and future processing facilities, catering to both domestic and export markets.
The Chiefs and Elders of Begoro expressed their satisfaction in formalizing this partnership with Maple Agro Farms through the LOI. They stated that this collaboration represents a significant stride towards sustainable agribusiness development, job creation, and enduring prosperity for their community. They extended a warm welcome to Maple Agro Farms as a valued partner and anticipate the positive impact this project will bring to Begoro, Fanteakwa District, and the Eastern Region.
Under the terms of the LOI, Maple Agro, through its wholly-owned Ghanaian subsidiary, Golden Grove Plantations Ltd., plans to enter into and execute a Definitive Leasehold Acquisition Agreement (the 'Definitive Agreement'). This will follow the completion of customary due diligence and the satisfaction of standard closing conditions. The LOI delineates the framework for how the parties intend to negotiate and finalize the Definitive Agreement.
Key provisions within the LOI include a royalty payment structure designed to recognize the substantial capital investment required for a commercial palm oil plantation, allowing the project to achieve productive maturity before annual community royalty payments commence. Additionally, the LOI addresses environmental stewardship, community cooperation, sustainable agricultural practices, confidentiality, exclusive negotiations, and customary land administration in accordance with Ghana's Land Act, 2020 (Act 1036).
Upon the finalization of the Definitive Agreement, Maple Agro is committed to ensuring that all utilization, development, and operation of the property will strictly comply with all applicable laws and regulations of the Republic of Ghana. This includes, but is not limited to, the Land Use and Spatial Planning Act, 2016 (Act 925), the National Land Policy, 1999, the Food and Agriculture Sector Development Policy (FASDEP II), the Land Act, 2020 (Act 1036), and all pertinent environmental, zoning, permitting, and land administration requirements.
Ghana stands out as one of West Africa's most politically stable democracies and boasts a well-established agricultural sector, making it an attractive destination for long-term agricultural investment. This proposed acquisition provides Maple Agro with the opportunity to secure a substantial, contiguous land package ideal for developing a modern commercial palm oil plantation and associated processing facilities.
The Eastern Region offers highly favorable growing conditions, existing transportation infrastructure, robust agricultural traditions, and close proximity to export markets, positioning it as one of Ghana's premier agricultural regions. Globally, demand for sustainably produced palm oil continues to escalate, driven by its use in food manufacturing, consumer products, and renewable biofuel markets.
Following the completion of the Definitive Agreement, Maple Agro intends to initiate development planning activities, which encompass environmental permitting, detailed engineering, nursery development, infrastructure planning, and the eventual construction of processing facilities. The company also pledges to collaborate closely with the Traditional Authorities, local communities, and government agencies to promote responsible development that generates local employment, safeguards the environment, supports sustainable agriculture, and delivers long-term economic benefits to the Begoro area.
Sammy Boakye, President & CEO of Maple Agro Farms, commented, 'This Letter of Intent lays the groundwork for what we believe can become one of Ghana's leading integrated palm oil developments. Securing approximately 10,000 acres in one of the country's prime agricultural regions provides the necessary scale to support both plantation development and future downstream processing. We are grateful to the Traditional Authorities of Begoro for their confidence and partnership and eagerly anticipate completing our due diligence and negotiating a definitive agreement that will deliver long-term value for local communities, Ghana, and our shareholders.'
Maple Agro Farms Corporation is a privately held Canadian agribusiness headquartered in Vancouver, British Columbia. It conducts its operations in Ghana through its wholly-owned subsidiary, Golden Grove Plantations Ltd., which is responsible for acquiring, developing, and managing the company's palm oil plantation and agribusiness operations in Ghana.
Established to meet the growing demand for sustainably sourced palm oil, Maple Agro focuses on cultivating, processing, and marketing premium palm oil products utilizing environmentally responsible practices and modern agricultural technologies. The company aims to establish a 10,000-acre plantation, develop modern processing facilities, and achieve an annual production of over 20,000 metric tonnes of palm oil over an estimated five-year development period, simultaneously creating employment opportunities and contributing to sustainable economic development in West Africa.
Source: FinancialContent