Illovo secures Treasury approval for land development project
The National Treasury Jobs Fund has approved Illovo Sugar South Africa’s project to develop a further 3 000 ha of small-scale grower cane land on the South Coast of KwaZulu-Natal.
The project will result in the creation of 1 188 new jobs and the training of 1 630 people.
“Working in partnership with traditional councils, this initiative will see Illovo create sustainable employment for black growers and their families, provide training opportunities for rural households and also increase its contribution to stimulating economic activity in deep rural areas,” Illovo said in a statement on Friday.
To date, Illovo’s own land redistribution initiative has resulted in the sale of 28 086 ha, comprising 55% of its own land portfolio, to black people and resulting in the establishment of more than 50 black commercial farmers.
The group has also provided extensive support services to land reform beneficiaries and small-scale growers, helping to improve the livelihoods of rural communities.
During the past financial year, Illovo’s total economic impact on the local economy amounted to about R9.6-billion – R1.4-billion of which emerged from the direct impacts of its business operations in KwaZulu-Natal, with the balance the multiplier effects of the business within its supply chain and the wider economy.
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