Norway is investing R120 million in this South African dried fruit and nut business – with demand expected to rocket

  • 📰 BusinessTechSA
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 61%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Norfund, the Norwegian Investment Fund for Developing Countries, has announced an investment of $8 million (R120 million) in South African raisin processor and distributor Redsun.

Established in 2009, Redsun is based in Keimoes in the Northern Cape, a region where approximately 90% of South Africa’s raisins are produced.

Norfund’s investment is expected to sustain 163 direct jobs, create more than 200 new permanent jobs and support more than 6,000 indirect jobs by investing in a rural part of South Africa where manufacturing job opportunities are scarce. “It is also in line with our strategy to create jobs by processing agriculture locally. The new pecan wet cracking facility and raisin processing facilities are going to be instrumental for the company and the region. We are excited to partner with an experienced management team and to benefit from 1K1V’s access to Three-Dimensional Capital,” he said.

Jordaan noted the growth investment by Norfund will enable Redsun to double its current capacity by building the sole raisin processing facility in Vredendal, the fastest-growing frontier for raisin production in South Africa.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 24. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

South African aviation industry seeing a major brain drain as people are poached overseas: expertExperts have warned that South Africa’s aviation industry is facing a severe skills shortage as more professionals look for greener pastures overseas.
Källa: BusinessTechSA - 🏆 24. / 61 Läs mer »