New Investor Enters South Africa’s Forestry Industry
South Africa hosts a developed commercial forestry sector, offering significant export opportunities for global investors. In September, international investor New Forests made its debut investment in the country by acquiring a majority stake in Rance Timber, a forestry and sawmilling company.
Details of the Acquisition
Rance Timber, a century-old business, manages 14,000 hectares of pine plantations in the Eastern Cape province and operates two sawmills. Headquartered in Australia, New Forests plans to use this acquisition as a foundation for expansion.
“We see it as a great platform from which to grow within South Africa,” says Yida Kemoli, managing director for Africa at New Forests. “And we also see it as a great platform to explore new markets within South Africa, new markets within Africa as well.”
Forestry in South Africa
- Less than 10% of South Africa’s land is forested, a small percentage compared to some African nations with over 80% forest cover.
- The country has the most advanced commercial forestry industry in the Southern African Development Community (SADC) region.
- It leads in plantation forestry area and has a broad processing industry converting timber into finished goods.
Kemoli believes the forestry sector has potential to reach new levels of development in South Africa.
Author’s summary: New Forests' investment in Rance Timber marks a strategic step into South Africa's mature forestry market, aiming to expand locally and across Africa's emerging markets.
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