NEWS
Ithemba Trust launched Exeo Capital backs Zambian
food distributor
AFRICA-FOCUSED PRIVATE equity manager, Exeo Capital, has announced an investment of US$6.4 million into Capital Fisheries – a market-leading Zambian food distributor that specialises in the cold-chain distribution of animal proteins. Kennett Sinclair, partner at Exeo Capital, says the decision to invest in Capital Fisheries was driven by the market prospects for this line of business in Zambia and the proven business model of Capital Fisheries. More than half of animal protein consumed in Zambia consists of fish, Sinclair explains. ‘Capital Fisheries has a large market share in fish distribution in Zambia. The company’s innovative model of wholesaling frozen products from reconfigured, refrigerated shipping containers placed permanently at markets, small shopping centres and areas where people congregate, has been tremendously successful.’ Capital Fisheries’ Zambian founding shareholders, Damian Roberts and Gavin Thomas, say consumer spending is expected to accelerate the company’s current growth. ‘Zambia’s population is forecast to grow at 2.8 per cent per annum by 2030, with an urbanisation rate of 4.8 per cent. We plan to double our wholesale depots and the supporting cold-chain logistics over the next two years.’ Sinclair echoes this sentiment, adding that Zambia’s GDP per capita is forecast to increase by 2.1 per cent by 2030. ‘You have all the ingredients necessary for excellent further growth prospects for this company,’ he explains. Capital Fisheries sells fish, sustainably harvested in Zambia, Zimbabwe and Namibia, mainly tilapia or bream and horse mackerel. More recently, it added smoked fish, and different cuts of Zambian beef and sausages produced from locally sourced fresh meat and certain imported products. Value-added products are processed in a modern fish and meat plant in Lusaka. Sinclair is confident that this investment will build on Execo’s previous investments in food and agribusiness in sub-Saharan Africa via their Agri-Vie Fund I.
is estimated at 44 500 tonnes at 1.5 per cent moisture. Australia currently exports 70 per cent of their crop and is said to be developing an additional 3 500 hectares of macadamia trees in 2018. ‘Increased plantings on a global scale is set to continue. Hopefully this will stabilise supply for what is seemingly an insatiable demand for macadamias worldwide. Generic marketing currently undertaken by the INC is an example of our industry body hard at work to perform the expansion of our product,’ Sutton notes. The Valley Macadamia Group is expanding capacities and market capabilities to cater for exciting new trends. It will join the Australian Macadamia Society as an international member from which to gain key knowledge on macadamia marketing for the benefit of African macadamia exports. The knowledge sharing culture of Valley Macadamia furthers the success of local farmers and processors by serving as a go-to platform for the latest trends and insights into the macadamia nut farming and trading industry.
BUREAU VERITAS SOUTH Africa (BVSA) a leader in testing, inspection and certification has launched The Ithemba Trust, an independent body, as part of its transformation journey. Aligned to the BVSA strong social awareness ethos, the trust focuses on empowering females from previously disadvantaged backgrounds with an emphasis on educating young black women in the STEM disciplines: science, technology, engineering and mathematics. After graduation, the company will absorb the young ladies into the business and upskill them with soft skills on work readiness. Enterprise development assistance will be provided to those that wish to launch their own businesses and work will be subcontracted to them to ensure they can sustain their businesses and achieve success. The Trust will focus on beneficiaries hailing from areas in which BVSA employees live and work. District legal counsel for Bureau Veritas Southern and Eastern Africa, Hennie Knight says, ‘Bureau Veritas has many longestablished programmes investing in people and skills, training, socio-economic investments and procurement. Beneficiaries will include young black females who will ultimately grow and develop in the fields of science, technology, engineering and mathematics. We are proud to announce that our journey has culminated in us being 51 per cent black owned and 30 per cent black female owned.’ Independent trustees include Yvonne Busisiwe Kgame and Zwelakhe Onwell Msomi, long-standing members of the South African business communities and highly respected and passionate about education and the transformation of women. The trustees have enjoyed leadership roles in local and international corporates and the education sector; bringing a powerful combined experience set to the trust. They have also been heavily involved in non-profit organisations and charities on local and global scales. Commenting at the announcement, vice president – Southern African region, Sal Govender concludes, ‘BVSA is committed to the region and continues to support local legislation. We are proud to launch the Ithemba Trust to make a difference in our society by empowering females within the STEM disciplines through education and enterprise development. We are creating a sustainable women empowerment programme that continues to create legacies and build a nation. We are poised to improve the lives of women; the backbone of society. It is our vision for South Africa to constantly exceed our client expectations through world class professionalism from a diverse and highly motivated team.’ Beatrice Scharneck, Hennie Knight, Sal Govender Onwell Msomi and Yvonne Kgame
June 2018 | Food Review
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