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.