Hortfin, a blended-finance initiative founded in 2018, celebrates seven years of enhancing South Africa’s deciduous fruit industry through financial support for emerging growers. Despite numerous challenges, including the pandemic and logistical issues, it has fostered economic participation and job creation. Both executives and support organizations emphasize the importance of partnerships and resilience in achieving this transformative impact.
Hortfin is a blended-finance initiative established in 2018 to support South Africa’s deciduous fruit industry. Celebrating seven years of operation, it aims to drive economic development while addressing the challenges faced by the sector. The initiative provides financial aid specifically to emerging and previously disadvantaged growers, facilitating industry growth, economic participation, and job creation.
Hortfin offers tailored debt products along with post-investment support, creating sustainable growth opportunities for first-generation agribusinesses in the value chain. Despite facing numerous hurdles, including the Covid-19 pandemic and logistics issues, the supported businesses demonstrated remarkable resilience. Michael Brinkhuis, the CEO, acknowledged that while they did not meet all targets, the outcomes were satisfying given the circumstances.
Chairman Ronald Ramabulana reflected on the initiative’s journey, noting the significant risks industry organizations took to secure funding. As a result of their commitment, commercial banks decided to participate, further strengthening the initiative. It emphasizes that success is rooted in partnerships and strong relationships.
According to Najwah Allie-Edries from the Jobs Fund, the model employed by Hortfin has the potential for replication across other agricultural sectors. She expressed pride in supporting Hortfin, highlighting its impactful role in transforming the deciduous fruit industry through economic growth, job creation, infrastructure development, and essential knowledge transfer for future sustainability.
Hortfin’s seven-year journey highlights the significance of collaboration in transforming South Africa’s deciduous fruit industry. Despite challenges, the initiative has successfully supported emerging businesses, reflecting a model of sustainable financial assistance. The future potential of this model suggests promising opportunities for similar agricultural sectors, emphasizing enduring partnerships and knowledge transfer as key components for success.
Original Source: www.fruitnet.com
