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SUBSIDIARY NAME

Weilu Farming (Pty) Ltd

COUNTRY

SOUTH AFRICA

SECTOR/ INDUSTRY

AGRICULTURE

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

September 15,2022

ACQUISITION VALUATION

107.923978 MILLION

TOTAL ASSET VALUATION

1.07923978 BILLION

AGRICULTURE

Weilu Farming (Pty) Ltd project by Herlu Smith acquired on September 15, 2022 and wants to buy farmland, stock, plant pecan nut trees and a facility to process the nuts.

The proposed business venture will include Pecan Nuts, Lucerne, Yellow Maize, Wheat, Sheep and Cattle farming. Pecan Nuts are high in demand in countries such as China where the middle-class market has been growing exponentially in the last few years. The European market has also recently expanded in the Pecan nut imports and opens new doors for exports. Pecan Nut trees can yield large crops for a number of years therefore the profits are high due to low input costs.

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