We pursue a low-risk strategy to capitalise on opportunities in the rest of Africa. This entails following established customers into selected locations, entering into joint-ventures with other established food and route-to-market businesses, and acquiring or establishing new businesses where appropriate to expand ownership of our value chain. In addition to expanding our physical footprint, we constantly engage with our multi-national partners to identify and capitalise on export opportunities in this space.


Our African Investments


Royal Eswatini Sugar Corporation (RES)– 29% Shareholding

RES is one of the largest companies in Swaziland. They produce two-thirds of the country’s sugar as well as a significant quantity of ethanol.

Hudani Manji Holdings (HMH) Rainbow– 33.5% Shareholding

HMH’s principal activities are the rearing and processing of chicken and the production of feed used in the rearing process. HMH is a strategic partnership of the Group as it provides access into the Ugandan market.

Mananga Sugar Packers Proprietary Limited (Mananga) – 50% Shareholding

Mananga is a sugar packaging and selling company which sells sugar under the First brand in Eswatini as well as in South Africa. Its primary business activity is to purchase sugar from the Eswatini Sugar Association, pack it and sell it as a branded product. This is a strategic partnership for the Group as it allows the Group to access the Eswatini sugar market.