Liberia: GVL Lays Off Nearly 450 Workers - News Summed Up

Liberia: GVL Lays Off Nearly 450 Workers


Employees in Sinoe and Grand Kru were affected, including general workers, staff, and managers, Kofi added. Oil palm price has fallen since the beginning this year by 452 Malaysian Ringgit (US$103.87) metric tons or 16.34 percent, according to trading on a contract for difference (CFD) that tracks the benchmark market for the commodity. GVL signed a 65-year concession with Liberia in 2010 for 350,000 hectares of land or approximately 2.3 percent of Liberia’s total landmass. The company’s primary investor is Golden Agri-Resources (GAR), the world’s second-largest palm oil company, listed on the Singapore Exchange (SGX). It is the third time the company, the largest palm plantation in Liberia, has laid off staff.


Source: Front Page Africa May 16, 2020 20:34 UTC



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