The custodian of Hortfin is the deciduous fruit industry, supported by the Jobs fund and other financiers. The activities of Hortfin are governed by the board of directors supported by permanent personnel and contracted capacity.
CORPORATE GOVERNANCE AND MANAGEMENT
The custodian of Hortfin is the deciduous fruit industry, supported by the Jobs fund and other financiers including commercial financial institutions, government, DFI’s and industry organisations. The activities of Hortfin are governed by the board of directors supported by permanent personnel and contracted capacity.
Participants in the broader fruit industry are expected to play an important role in identifying opportunities, forming joint ventures and generally providing support to the investee companies.
DIFFERENTIATION
- Hortfin is specifically for the deciduous fruit industry and will rely on industry bodies and local knowledge to assist with deal origination, the due diligence process, the investment decision and post investment support.
- The loan size will typically vary from R2.5 million to R50 million.
- Willingness to absorb relatively greater risk
- Interest rates in the range of prime less 2% to prime plus 1% depending on the risk profile
- Flexibility in structuring finance products with optimum matching of cash flows to repayments.
- Comprehensive post-investment support regarding financial, technical and management aspects.
- Encourages collaboration with other funders, commodity organisations and agribusinesses.