AFGRI Group Enhances Food Resilience with Norfund's $33 Million Investment

Norfund, a prominent private equity firm, is providing 600 million ZAR, equivalent to approximately 33 million USD, to South Africa's AFGRI Group. This funding aims to strengthen agricultural productivity, generate employment, and improve food resilience across the region. AFGRI, a major agricultural services provider in South Africa, serves about one-third of the country's farmers with services like grain management, machinery, and farmer financing. In 2024, AFGRI's initiatives benefitted nearly 60,000 individuals, supported numerous schools, and created close to 500 jobs, standing as a testament to the sector's critical role in the country's economic stability and food security. This investment from Norfund will not only bolster AFGRI's current operations but also assist in expanding its presence across the African continent. Key executives from both Norfund and AFGRI have emphasized the strategic importance of this investment in securing South Africa's food supply and supporting farmer resilience amidst global climate challenges.