Global development institution the International Finance Corporation (IFC) and Dutch entrepreneurial development bank FMO have partnered to provide funding and advisory support to global agricultural company United Exports to help the company increase sustainable blueberry production in South Africa, create jobs and boost women’s participation in management roles.
The IFC and FMO will loan up to €14-million to United Exports, supporting the fruit logistics company’s strategy to adopt frost-resistant blueberry varieties and expand its blueberry orchards to frost-free areas, including to the Western Cape region.
About a third of the funding is solely dedicated to climate-smart agriculture practices and will help the company adopt drip irrigation systems and water meters, among other measures.
The support is expected to strengthen United Exports’ agribusiness value chain and create up to 1 340 direct and indirect jobs by 2030.
The IFC will also help the company develop training opportunities across all skill levels for new employees and provide capacity building to improve women’s participation in management roles.
“Our record in terms of foreign direct investment, foreign earnings, job creation and tackling gender inequality is something we are very proud of, and this has only been possible with the commitment and partnership of the IFC and FMO,” highlights United Exports founder and executive chairperson Roger Horak.
While the South African blueberry industry is noted to be relatively nascent, it is said to play a key role in supporting small and medium-sized enterprise farmers, especially in rural areas.