Unique Fund Aims To Generate 1 700 Jobs Over Three Years

Hortfin was launched in October last year to create jobs and accelerate transformation in South Africa’s deciduous fruit, table grape and wine industries. Michael Brinkhuis, CEO of Hortfin, spoke to Glenneis Kriel about the fund and the progress it has made so far.

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YOU JOINED HORTFIN AT THE BEGINNING OF THIS YEAR. WHAT DID YOU DO BEFORE THEN?

My father used to be a farmworker at a fruit tree nursery in Groot Drakenstein, so I basically grew up in the industry, working most of my school holidays on the farm. The experience gave me a passion for agriculture and also a yearning to empower people in the industry.

After school, I completed a horticultural diploma at what is now known as the Cape Peninsula University of Technology (CPUT), after which I upgraded to a BTech degree. I later obtained a master’s degree in agricultural systems management at Stellenbosch University while lecturing at CPUT.

Career-wise, I spent almost 10 years at Kaap Agri and another four-and-a-half years as the CEO of Casidra, which renders project management services to Western Cape government departments.

TELL US MORE ABOUT HORTFIN.

Hortfin is a R600-million, blended funding scheme initiated by the South African deciduous fruit industry with support from the Western Cape Department of Agriculture, and co-funded by National Treasury’s Jobs Fund and the Land Bank. It aims to provide innovative and comprehensive financing and support systems in a manner that promotes job creation, transformation and sustainability within the deciduous fruit, table grape and wine industries.

WHAT IS EACH PARTY’S CONTRIBUTION OR ROLE IN THE FUND?

Treasury gave R200 million via its Jobs Fund, matched by R300 million from the Land Bank and R100 million from the deciduous fruit, table grape and wine industries.

Hortfin, under leadership of a board of directors representing various stakeholders, will evaluate and approve projects, while the Land Bank will manage the loan book.

HOW DID THE FUND ORIGINATE?