Table of Contents
Palm Cote d’Ivoire SA (Palmci), an Ivorian agro-allied firm led by the wealthy Billon family, has returned a total CFA26.2-billion ($45.4 million) gain to shareholders since the beginning of 2022, as investors continue to acquire the company’s shares.
Palmci is an Ivory Coast-based corporation that operates as a subsidiary of SIFCA, an Ivorian agro-allied conglomerate created by the late industrialist Pierre Billon, the father of the country’s Commerce Minister Jean-Louis Billon.
The company owns the largest palm oil refining plant in Africa.
Under the leadership of the Billon family, the agro-allied company has been able to leverage the recent increase in the price of crude palm oil in the global market to create increased value for all stakeholders, resulting in a double-digit increase in its share price as investors sustained buying interest in the company.
As of press time on Feb. 17, shares in Palmci were trading at CFA8,685 ($15) on the Bourse Regionale des Valeurs Mobilieres, 7.5-percent higher than its opening price on Feb. 16.
Since the start of the year, its share price on the regional exchange has risen from CFA6,990 ($12.1) at the start of the first trading session this year to CFA8,685 ($15) at the time of writing.
The price increase has accrued a total 24.2-percent gain for shareholders since the beginning of the year, while the company’s market value is up by CFA26.2 billion ($45.4 million) so far.
According to data compiled by Billionaires.Africa, Palmci’s market capitalization has climbed from CFA108.1 billion ($187.2 million) on Jan. 1 to CFA134.2 billion ($232.6 million) at the time of writing.
In an effort to create value for the shareholders, Palmci entered into a deal with OPC, a Canada-based firm involved in the development of potassium carbonate manufacturing in West Africa.
The agreement, signed through its West African subsidiary, OPC Ivory Coast Inc., allows for the production of a combination of food-grade potassium carbonate crystals, potassium carbonate solution, and organically derived fertilizers utilizing OPC’s licensed technology.
The intelligence satisfies curiosity. The paid briefings satisfy strategy.
Every Monday, Elite subscribers receive an Investor Memo breaking down the deal, the structure and the positioning behind the week's most consequential African wealth story - the kind of analysis that doesn't appear anywhere else.
Twice a month, a Wealth Intelligence brief profiles a single billionaire's holdings, cash flows and expansion pipeline in detail no public source matches.
→ Executive ($25/mo): Daily newsletter + Deep-Dive Reports
→ Elite ($75/mo): Everything above + Investor Memos + Wealth Intelligence + Quarterly Analyst Briefings
Subscribe now
