- Tiger Brands has a new R100 million fund to help small business owners grow in the food and beverage industry.
- The fund will prioritise consumer brands, intellectual property, and technology companies that support the sector.
- The company sees the venture as an opportunity to expand its reach across the continent.
- Here’s what you need to know.
- For more stories, go to www.BusinessInsider.co.za.
Tiger Brands has established a fund of R100 million aimed at providing access to capital for entrepreneurs either directly or indirectly linked to the food and beverages sector.
The company, which owns Ace maize meal, Jungle Oats, and Oros among other household staples, said the fund would also help the company explore new opportunities across the African continent.
“Our strategy and vision is not only to continue being Africa’s largest food manufacturer but also to ensure that we stay ahead of the curve in terms of trends to better cater to the evolving needs of our consumers,” Becky Opdyke, Tiger Brands’ chief marketing officer, said.
The fund provides Tiger Brands early access to opportunities, which the company said provides a pipeline to fuel future growth, including by entering new product categories.
This is how you can apply to get involved…
While applications for the fund have already opened, it will launch formally next month, and it has no specific date for closure.
The company is in the process of setting up a webpage specific to the fund. Business founders are can contact the company for enquiries at [email protected] in the meanwhile.
… and this is who should apply.
“The businesses should be in the food and beverage sector in Africa, whether with product brands themselves or be in a supporting technology,” said Opdyke.
The company will prioritise consumer brands and companies dealing with intellectual property within the food and beverage sector.
The company said its secondary focus will be on capability and technology opportunities across the value chain, which Tiger Brands’ broader business can benefit from.
“Relevant opportunities will include emerging and existing consumer trends such as Health and Nutrition, Plant-Based foods, Convenience and Snackification,” the company said.
“We are open to all start-up stages from nascent ideas all the way through to viable products looking to scale,” Opdyke said.
The company will also offer support to the successful beneficiaries to help them realise their growth targets.
“Every investment is likely to need different types of support in their growth journey, and we do anticipate tapping into the many areas of expertise we have within Tiger Brands to help make these investments flourish, Opdyke said.