Norfund, a Norwegian Investment Fund for Developing Countries, has invested $8 million South Africa-based raisin processor and distributor Redsun Dried Fruit and Nuts (“Redsun”), a portfolio company of One Thousand and One Voices (1K1V).
Redsun, located along the banks of the Orange River, is expanding its operations with two new state-of-the-art facilities, that will help it to grow its market share in the $33 billion healthy snacks market.
1K1V’s portfolio companies, including Redsun, have exported over $60 million worth of products from Africa to over 35 countries.
The growth investment by Norfund will enable Redsun to double its current capacity by building the sole raisin processing facility in Vredendal, the fastest-growing frontier for raisin production in South Africa. Redsun is also diversifying its dried fruit and nut offering by building a pecan nut facility adjacent to its Keimoes raisin facility as it entrenches itself in the fastest growing crop along the Orange River.