SEKAB to sell Africa biofuel projects to former CEO Per Carstedt

Unable to find a buyer, SEKAB now plans to sell its controversial biofuel projects in East Africa to a company controlled by SEKAB’s former CEO Per Carstedt. Sida is asked to provide a guarantee.

Carstedt was forced to step down as CEO earlier this year. The Board assigned him to find new investors for the African projects, but there have been no formal bids. Now SEKAB writes off SEK 140 million in losses and Carstedt prepares to take over the projects.

A “delicate issue", says the new CEO of SEKAB Björn Edström.

Development Today is a subscription-based journal published with 20 issues a year. To subscribe click here.

If you are already a subscriber to Development Today please log in.

Would you like to know more about Development Today? Click here.