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South Africa 24/10/2023

Investment agreement to drive growth

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In South Africa ANB Group of Companies benefits from expansion capital from Norfund to drive growth. Norfund is the Norwegian Investment Fund for developing countries
 
The capital raised from this transaction will mainly be used for the errection of orchard netting infrastructure to protect harvests from hail, wind and excessive sun exposure, but the spin-off will be felt right through to the chain,” says Marcel O’Connell, CFO of the ANB Group.
 
42% of the group’s 2 556 ha of citrus is currently under net, and the capital injection will result in 1 704 ha (67%) protected against the elements.
 
According to AJ Esser, co-CEO of the ANB group, the wide-spread benefits of netting are clear: "Higher volumes of improved quality fruit enables brands like ClemenGold® premium mandarins to honour the high demand for superior quality citrus of clients in some 45 countries."
 
"The collaboration between Norfund and The ANB Group contributes to increasing resilience in South African agriculture and creating new jobs that help combat poverty in rural South Africa," says Simen Øby, investment director in Norfund.
 
The ANB Group comprehensively serves the fruit value chain, from products and services related to developing and commercialising cultivars (citrus and other sub-tropical fruit), tissue culture laboratory facilities, nurseries for plant propagation, fruit farming and packing, as well as fruit marketing and branding activities.  
 
 
 
 
 
source : anbinvestments.co.za
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42% of the group’s 2 556 ha of citrus is currently under net, and the capital injection will result in 1 704 ha (67%) protected against the elements (Photo : anbinvestments.co.za).
   
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