African Agriculture Holdings Inc.
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Michael Rhodes
- Full Time Employees
- 85
- Sector
- Consumer Defensive
- Industry
- Agricultural Farm Products
- Address
- 445 Park Avenue New York City NY United States of America 10022
- IPO Date
- Oct 5, 2021
- CIK
- 0001848898
- Website
- africanagriculture.com
- Similar Companies
- Business
- African Agriculture Holdings Inc. (NASDAQ: AAGR) operates as a global food security company focused on commercial-scale agriculture in Africa, primarily through its subsidiary Les Fermes de la Teranga SA in northern Senegal; the company produces and sells alfalfa for cattle feed and nutrition, with plans to expand into biomass for biofuel, tree planting for carbon credits, grains, other animal feeds, and fish farming. Founded in 2021 and headquartered at 445 Park Avenue, Ninth Floor, New York, New York, it targets international markets including West Africa, Asia, and ECOWAS countries, employing approximately 85 people and holding concessions for up to 25,000 hectares near Richard Toll, Saint-Louis, Senegal. African Agriculture Holdings serves livestock and dairy industries with high-quality, sustainably produced feeds, leveraging large-scale operations to address growing demand amid Africa's population projected to double by 2050. The company maintains a subsidiary relationship as part of Global Commodities & Investments Ltd. and became the first pure-play U.S.-listed African agriculture firm following its December 2023 business combination with 10X Capital Venture Acquisition Corp. II, which enabled Nasdaq listing under ticker AAGR. In January 2024, it secured a multi-year supply agreement with South Korea-based Dr. Kahn for alfalfa from 700 hectares, boosting expected revenues through 2025. Michael Rhodes assumed the role of CEO in February 2024, succeeding Alan Kessler who remains chairman, driving a strategic shift toward crop diversification, sustainable practices including enhanced soil quality and reduced water usage, and farm expansion from 750 acres to nearly 50,000 acres to meet demands for animal feeds and grains. Recent activities include orders for seeds and irrigation equipment to increase production, alongside board addition of Osman Ahmed from 10X Capital in late 2023, though in 2025 it faced Nasdaq delisting notice prompting transition to OTC markets.
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African Agriculture Holdings Announces Michael Rhodes as Chief Executive Officer
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