Socfin
https://www.socfin.com/enAbout
Founded in 1909, Socfin is one of the longest-established oil palm plantation companies. Its history dates back to the colonial era, when Belgian agronomist Adrien Hallet began developing industrial plantations in Sumatra and Malaysia. Today, Socfin operates rubber and oil palm plantations, and markets oil palm seedlings through subsidiaries and joint-venture operations with government and entrepreneurs in multiple countries including Indonesia, Cameroon and Sierra Leone. Socfin's operations in West Africa have been met with widespread resistance from local communities and small-scale farmers over corporate land control and rights violations of communities and plantation workers. NGOs have also accused the company of profit-shifting and corporate tax avoidance. The company is majority owned by its chairman Hubert Fabri and French billionaire Vincent Bollaré.
RSPO Member : Yes
Market cap
308.4
Million USDLandbank
191,900
hectaresSupply chain position
Upstream - Midstream
Grower. Processor of crude palm oil and palm kernel oil. Refiner.Refineries / capacity
1
refinery (in Cameroon)NDPE Policy
In 2017 Socfin introduced a responsible management policy focusing on human rights and environmental preservation.
In 2017 Socfin introduced a responsible management policy focusing on human rights and environmental preservation.
No
No deforestation, No peat, No exploitationMarket served
European, Indonesian, African
Parent Company
n/a
Subsidiaries
Société Camerounaise de Palmeraies (Socapalm) - Kienké, Société Camerounaise de Palmeraies (Socapalm) - Mbambou, Société Camerounaise de Palmeraies (Socapalm) - Edea, Société Camerounaise de Palmeraies (Socapalm) - Eséka, Société Camerounaise de Palmeraies (Socapalm) - Mbongo, Okomu Oil Palm Company PLC (66% equity in 33,113 ha), Société Africaine Forestière et Agricole du Cameroun (Safacam) (69% equity in 15,000 ha), Socfin Agricultural Company (SL) Limited (85% equity), Société Camerounaise de Palmeraies (Socapalm) - Dibombari (socapalm cameroon total 67% in 58,000 ha), Plantations Socfinaf Ghana (PSG) (100% equity), La Société des Caoutchoucs de Grand Béréby (SoGB) (Cote d'ivoire, 73% equity in 34,713 ha), Brabanta SA, DCR (99% equity in 29,000 ha), PT Socfin indonesia (1968 became JV with Indonesian Gov. - Socfinado), SOGB Storage Terminal Société Camerounaise de Palmeraies (Socapalm) - SOCAPORT, Sogescol FR SA, and SPFS Refinery
Products
Crude palm oil, crude palm kernel oil, refined palm olein, refined palm stearin (used to produce biofuel in Cameroon)
Resources
Bolloré Group fined €12 million in Togo corruption case
February 26, 2021African Oil Palm Expansion Slows, Reputation Risks Remain for FMCGs
March 2, 2022Swiss nonprofit: Belgian tycoon Hubert Fabri’s Socfin Group allegedly shifts profits outside Africa
October 22, 2021French Billionaire Vincent Bollore Arrested For Alleged Corruption In Africa
April 24, 2018Continue reading
