Sirius Financial Services, Inc. acquired a new subsidiary, Farmica Africa, a producer of Lemon grass based products including tea, soap, an energy drink, insect repellant and essential oil.
Sirius will be installing machines with the factory capacity much bigger and can take more Lemon grass products outside its farm and used with out growers in 2014. The field management staff believes that out growers such as in other Lemon grass growing countries such as Kenya and Rwanda is socially, politically and economically worth investing.
The Company is targeting 500 acres of Lemon grass production in the first phase through 2014 and increasing its production level in 2015 to 2,500 acres. This level of production will generate a capacity of 36.5 tons of each product from Lemon grass in the first year. The present worldwide demand for Lemon grass product is estimated at 56.8 tons per year and is expected to reach 68.4 tons by 2023.
Farmica Africa is aiming at reducing poverty and hunger among the local population in Sierra Leone, thereby improving their socio-economic status in the country. This will be done through support to farmers, product processing and marketing. The vision of Farmica Africa is to be one of the leading Lemon grass producers of high quality products in West Africa.
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