Kagiso’s Tyala funding helps create 2 436 jobs
JOHANNESBURG - KAGISO Trust’s Tyala Impact Fund, a vehicle to provide new era farmers with a holistic funding solution, had collaborated with financial partners and investors, approving the co-funding of transactions worth R204.2 million in North West, Limpopo, KwaZulu-Natal and the Eastern Cape, it said yesterday.
It said the trust had invested R57.3m of its developmental funding, unlocking R147.2m from partners and creating about 2 436 jobs.
Genius Mokgoadi, business and fund manager of socio-economic development at Kagiso Trust, said: “We have entered into joint agreements with stakeholders that provide for seamless, centralised critical resources centres to address infrastructure development, skills development, technical assistance and ring-fenced access to markets.”
He said the transactions in which the trust was involved were at different stages, but had already proved successful.
“It’s been a pleasing and satisfying process, particularly with the challenges the pandemic brought so soon after we started operations,” said Mokgoadi. “We have built a profile, seen growth in our traction in the agriculture sector, and learnt industry insights through our interaction and collaboration with financial institutions and sector stakeholders.”
The next focus of the Tyala Impact Fund was on resuscitating unproductive communal and government-owned or leased land. It was collaborating with stakeholders who understood the challenges in this type of an environment and the business and social urgency required to develop this land, it said.
“New investment proposals include partnerships with some of South Africa’s largest producers and household brands to open up market access, transform the value chain, further develop current black emerging business partners, and implement skills development and capacity building across the South African food system,” said Mokgoadi.