The Southern African Food Systems Transformation Alliance celebrated its official launch at the Johannesburg Country Club in South Africa. Companies such as Unilever and Freshmark Systems, representing 24 fresh produce markets, signed a covenant to commit to local sourcing ambitions with an overarching ambition for having 80% of total viable sourcing to be from within the SADC (Southern African Development Community) region by 2033.
The Alliance, convened by IDH and U Can Grow Africa, is the first of its kind in the region. This is a business-led collaboration to invest in the transformation of Southern African food systems. Centered on the ambition for 80% of total viable sourcing to be from within the SADC region by 2033, the Alliance sets the stage for food companies to work together to unlock local sourcing and invest in the next generation farmers and food manufacturing companies
To support the realization of these ambitions, IDH will setup a South Africa-based Investment Development Hub, comprised of grant and seed financing facilities. Grant financing coupled with technical support will be employed to develop early-stage business cases, while seed capital will be invested to enable scaling.
The Alliance is calling on funding partners to co-finance development, infrastructure, working capital and trade finance required to support collaborating partners across the value chain to unlock local sourcing.
For more information:
www.idhsustainabletrade.com/southern-africa-food-systems-alliance/