The first ever ‘blended’ finance scheme that will enable new entrants to the fruit and wine industries to expand their businesses is set for launch this week.
It’s a joint initiative of the South African deciduous fruit industry, the Jobs Fund and Land Bank and will target 51% and higher black-owned entities.
“Blended finance is the strategic use of development finance for the mobilisation of additional finance towards sustainable development,” a spokesman explained.
Hortfin is a ring-fenced loan facility and represents a modern approach to funding with partners using their expertise in a complementary way. Participating industries include pome fruit, stone fruit, table grapes and wine grapes.
