Norway investing R120 million in South African dried fruit and nut business – with demand expected to rocket (BT)

Norfund, the Norwegian Investment Fund for Developing Countries, has announced an investment of $8 million (R120 million) in South African raisin processor and distributor Redsun. Established in 2009, Redsun is based in Keimoes in the Northern Cape, a region where approximately 90% of South Africa’s raisins are produced. The company is at an advantage at a key juncture in the international raisin and pecan industry, as the US production level is shrinking, but demand is growing worldwide, the fund said in an accompanying statement. Norfund’s investment is expected to sustain 163 direct jobs, create more than 200 new permanent jobs and support more than 6,000 indirect jobs by investing in a rural part of South Africa where manufacturing job opportunities are scarce. Click here to read full article.