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South Africa's Tiger Brands to launch venture capital fund

05/20/2021 | 08:23am EDT

JOHANNESBURG (Reuters) - South Africa's biggest food producer Tiger Brands will launch a venture capital fund to invest in food and beverage start ups, with initial allocation of less than 100 million rand ($7.09 million), CEO Noel Doyle said on Thursday.

Geographically, the fund, which will be launched in June, will predominately focus on South Africa, "but not exclusively so," Doyle told analysts after presenting the company's half-year results.

($1 = 14.0970 rand)

(Reporting by Nqobile Dludla; editing by Mfuneko Toyana)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX 0.46% 514.99 Real-time Quote.-4.82%
DOW JONES SOUTH AFRICA(ZAR) 1.33% 1971.57 Real-time Quote.-1.99%
S&P AFRICA 40 INDEX -0.01% 166.02 Real-time Quote.-6.17%
TIGER BRANDS LIMITED 0.05% 147.12 End-of-day quote.-18.72%
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