South African fruit, wine and food exporter Afrifresh Holdings Ltd and Vuwa Investments, which is led by the Johannesburg-based businessman and former head of the National Prosecuting Authority (NPA) Bulelani Ngcuka, have announced a broad-based black empowerment deal in Cape Town.
Under the deal, which marks a major development in South Africa’s agricultural sector, a new operating company – Afrifresh Group (Pty) Ltd – has acquired all of Afrifresh’s existing South African operations and business interests, while Vuwa has bought a 30 per cent stake in the newly formed group.
Afrifresh development director Roy Fine hailed the deal as a rare commitment to black economic empowerment in the agriculture and fruit export sector. “I believe Vuwa will play a key strategic role in helping the Afrifresh Group to contribute positively to agriculture business development in South Africa,” Mr Fine said.
Meanwhile, Afrifresh MD Anton Viljoen is to leave the group at the end of May. CEO Chris Conradie, who co-founded the firm with Mr Viljoen in 1996, will take the helm.