Sherwood International and Africapaciti sign an agreement for industrial development in Africa
November 28, 2014
Johannesburg (04 November 2014) - Sherwood International, a division of Super Group, today announced that it has signed a partnership agreement with Africapaciti Investment Group for the purpose of promoting industrial development across the African continent.
The agreement covers areas of Supply Chain Mechanisation for Greenfields and existing industrial projects, with a special focus on Agro-processing, Oil and Gas, and Manufacturing sectors. The two companies have also committed resources to driving investments in South Africa, Zimbabwe, Mozambique and Malawi. Sustainable natural resource management has the potential to transform the economies of resource-rich countries in Africa.
Mr Tafadzwa Muguti, Group CEO and Founder of Africapaciti, said “We are pleased to see that Sherwood is seeing a great future in terms of local value beneficiation. It’s our hope that together we can influence industrial development and economic growth in the agreed countries. Africapaciti will commit resources towards the development of industrial projects from conceptualisation to bankability, raise additional funding if required and Sherwood (Super Group) will ensure supply chain and industrial mechanization. We already have several projects in the stated countries and we look forward to launching some of them before year end”.
Ms. Alida Smit, CEO of Sherwood said, “We want to thank Africapaciti for acknowledging our capacity through a partnership that seeks to improve the landscapes of African economies for the better. We look forward to working together to promote greater industrial development in Africa.”
Natural resources have the potential to become the catalyst for transformative change in Africa. The African Development Bank’s (AfDB) envisions the next 10 years as an opportunity for Africa to become the world’s next emerging market with growing internal and external demand for African products ‘if Africa can seize its potential in water, agriculture, renewable energy, oil, gas and minerals’.
Many African countries lack robust institutions that are essential to promote the formalization of resource flows, control environmental impacts, and effectively channel the revenue stream from natural resources to national economic and social development. Oil, gas, and minerals account for anything from 25 percent to 90 percent of export revenues in many parts of African economies.
It is for these reasons that Sherwood and Africapaciti have joined forces to bring about sustainable development solutions on the continent. Africapaciti and Sherwood will provide four basic solutions to African companies:
1.Supply Chain Services: will render Inventory Management and Optimisation services, Procurement, Transport and Logistics, Forward and Clearing, and Warehousing.
2.Supply Chain funding: this will include the financing of supply chain transactions on terms and mitigate the risk of trading with suppliers and customers in Africa.
3. Commodity Trading and market establishment (FMCG Products): this involves the development, distribution and creation of markets for different products.
4.Procurement: involves the sourcing of raw material and packaging for suppliers and manufacturers.
Sherwood is involved in the administration of supply chain activities throughout Africa with a predominant focus on the Building and Construction, Oil and Gas, Mining and FMCG industries. The Company provides supply chain solutions to manufacturers and producers by leveraging their infrastructure and procurement spend to enable their clients to focus on their core competencies.
Africapaciti Investment Group is an investment promotion and project development company focussing on investment opportunities across Africa.