New Forests, a global investment manager of nature-based real assets and natural capital strategies, is today announcing its African Forestry Impact Platform (AFIP) has invested in Rance Timber (Rance), a forestry and saw milling company in South Africa.

This is the second investment for AFIP and New Forests’ first investment in South Africa, which has a well-established forestry industry and a significant base of forestry professionals and technical expertise.

With a history dating back more than 100 years, Rance consists of over 14,000 hectares of pine plantations and two sawmills and provides a variety of timber products to markets in the Eastern Cape. It is also a strong contributor to employment with approximately 1,400 people employed across its forestry and sawmilling divisions.

Rance has a strong commitment to sustainability with almost 60% of the total area consisting of plantation forests, with the remainder made up of indigenous forests, grasslands, riparian zones and other vegetation types which are protected and enhanced to improve biodiversity and water quality.

Yida Kemoli, Managing Director, Africa, New Forests said, “We are extremely pleased to be partnering with Rance, a family-owned business, with a strong reputation for its approach to forestry management, sustainability and innovation in South Africa. Forestry is an important sector for South Africa, ranking amongst the top exporting industries, contributing significantly to employment, and is underpinned by strong government regulations and support, making it an attractive market in which to invest.”

“The acquisition of Rance complements our earlier investment in Green Resources in Eastern Africa. The team is focused on a strong pipeline of opportunities and the next stage of growth to expand our reach across Sub-Saharan Africa.”
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Source: newforests.com