RedSun Dried Fruit & Nuts – a Northern Cape-based processor and distributor of raisins and pecan nuts – has secured a R120 million investment from the Norwegian Investment Fund for Developing Countries to boost production. The investment will be used to build two new processing factories which are expected to create up to 200 new permanent jobs, according to the privately-run company. In turn, Norfund will take a shareholder role at the company and obtain a seat on its board.
He points out that Vredendal is the ideal location to build the new raisin processing factory because it will also significantly decrease expenditure on logistics moving forward. In a statement by One Thousand and One Voices , the company’s current investment partner, the fund says that it will also introduce the first wet cracking facility in the southern hemisphere which will lead to increased processing for pecan nuts.