New Forests' Bold Investment in Rance Timber: A Green Move
New Forests makes a strategic investment in Rance Timber through AFIP, reinforcing sustainable forestry in Africa.
In a striking move to bolster sustainable forestry, New Forests, a leading global investment manager, has revealed its substantial investment through the African Forestry Impact Platform (AFIP) into Rance Timber. Based in South Africa, Rance Timber is a century-old, family-operated forestry and sawmilling enterprise recognized for its commitment to responsible forestry and innovation.
Heritage Meets Innovation
Rance Timber’s operations span over 14,000 hectares of meticulously managed pine plantations. Over the years, the company has established itself as a pivotal player in South Africa’s timber industry, offering a diverse range of products and upholding a strong reputation for sustainable management practices. This amalgamation of heritage and innovation is what makes Rance Timber stand out, a sentiment echoed by Yida Kemoli, Managing Director for Africa at New Forests.
“We are delighted to partner with a company that exemplifies sustainable excellence. Rance Timber’s deep-rooted heritage aligns seamlessly with our vision to drive impactful investment in Africa’s forestry sector,” shared Kemoli enthusiastically.
Pioneering Environmental and Social Outcomes
New Forests’ strategic move to acquire Rance Timber fits their broader mission to build a diverse portfolio of high-impact forestry assets across sub-Saharan Africa. This investment follows New Forests’ earlier acquisition of Green Resources, and is indicative of the firm’s commitment to driving financial returns while achieving positive environmental and social outcomes.
The Role of the African Forestry Impact Platform
Launched in 2022, AFIP is an open-ended investment vehicle spearheaded by New Forests alongside partners like British International Investment, Norfund, and Finnfund. With a focus on commercial plantation forestry across sub-Saharan Africa, AFIP aims to leverage opportunities that promise both biodiversity conservation and economic growth.
South Africa Foresees a Greener Future
South Africa’s forestry sector is crucial to its economy, providing employment and thriving under a robust regulatory framework and government support. New Forests’ investment is a testament to the robust future that lies ahead for forestry in the region.
According to Innovation Village, this investment reinforces South Africa’s position as a compelling landscape for sustainable forestry investments, promising both economic upliftment and ecological preservation.
New Forests and Rance Timber are now poised to lead a transformative journey in the African forestry domain, with eyes set on the next phase of sustainable growth.