( 3 Minutes Read)
Königstein Capital has overseen the investment of N$130 million in Mashare Agri Group’s flagship, Mashare Blueberry project, now in its fifth year. The project has 60 hectares under production and secured a further N$140 million for future expansion.
Spitz Capital, a fund managed by Königstein Capital, the Government Institutions Pension Fund of Namibia (GIPF) provided the development capital. Roughly N$300 million has been invested in Mashare Agri Group, which encompasses the blueberry project. It’s important to acknowledge the critical role of the GIPF in making this project possible. Their initial investment provided the development capital and was a catalyst for establishing the blueberry industry in Namibia .
The project has already generated 130 permanent jobs and up to 1,000 seasonal jobs, with the potential to increase more than tenfold. The project now aims to expand blueberry production to over 300 hectares, which would result in 350 permanent jobs and 4,500 seasonal jobs. It is actively exploring opportunities to expand blueberry production to other regions within Namibia, with active exploration for new opportunities underway.
Königstein Capital envisions the Kavango region as a major hub for blueberry production in the future. The region has potential for over 2,000 hectares under cultivation in the long term, which could generate significant job opportunities, with estimates exceeding 2,000 direct jobs and close to 30,000 seasonal positions. Mashare Agri Group has established an internationally registered trial site to assess the viability of different blueberry varieties under Namibian conditions. Additionally, the project includes a 2-hectare trial block for avocados and utilises a center pivot irrigation system across 680 hectares, 280 of which were newly developed by the group.
The export performance faced challenges in 2023 due to an extreme frost event, impacting yields and preventing the farm from reaching its initial export targets. The current export markets for Mashare blueberries include the Netherlands, Germany, France, Great Britain, Spain, the Middle East, and Hong Kong.
Talking about new ventures, avocado production at Mashare is currently in the trial phase, with a 2-hectare block established to assess the viability of this crop. Data collection is ongoing, and no commercialisation decisions have been made yet. The current focus is on the 2-hectare trial block. Future expansion will depend on the results and commercialisation decisions. He added that while various citrus and nut crops are also being explored, the primary focus remains on blueberries due to their significant impact on job creation. Investment has primarily focused on blueberry production, and there have been no material investments in avocados or other permanent crops yet.
Read Also;
https://trendsnafrica.com/n1-5bn-investment-for-namibian-blueberry-project/
GIPF Principal Officer Martin Inkumbi expressed his satisfaction with how the institutional savings, namely those of the GIPF, have positively impacted the Namibian economy by earning a return and benefiting the GIPF members in the long term. He said the project injects approximately N$1 million to N$1.5 million per month into the local economy in the region.
