Simeka seeks to diversify its investments by investing into the agriculture sector in South Africa.

Simeka Harvest is a subsidiary of Simeka Capital Holdings (Pty) Ltd. The focus of Simeka Harvest is on vegetable crops and micro-greens as well as various types of culinary herbs and edible flowers supplied to various retail supermarkets and fresh produce markets in Gauteng.

Strategic Thrust Our entry into agriculture will commence with an involvement in vegetable and herbs cultivation under cover (greenhouse). We will later explore opportunities in the entire agri-value chain, including agri-processing. The recent acquisition of a farm in Gauteng presents us with an opportunity to firmly kickstart the Agriculture portfolio within the group. Our vision is to cultivate and process fresh produce to be sold in major high-end vegetable retail stores in South Africa. Our core customers are retail stores that sell vegetables; premium restaurants as well as local fresh produce markets like the Johannesburg and Tshwane Fresh Produce Markets. 3 – 5-year goal: Achieve R50m plus revenues 5 – 10-year goal: Achieve R100m plus annual revenues

Urban Agriculture Market

Simeka Harvest sees opportunities in the agriculture sector despite its drop in GDP contribution from 10% in 1960 to just 2% in 1990. It has been reported that the number of farmers in South Africa has dropped from 120 000 in 1990 to 35 000 today. Agriculture remains one of the most relevant sector for its role in ensuring food security, food sovereignty and job creation. The deterioration of agricultural land, lack of water and lack of conventional farming skills means that the trend towards new controlled greenhouse farming methods is growing. The opportunity for Simeka Harvest lies in technologically-driven farming methods, given that there is a sizeable gap in the market which exists during non-seasonal periods. Additionally, since the average age of a South African farmer is 60 years, even amongst the traditional farmers, skills shortage is a reality. To correct this, effective strategies for land use in terms of agriculture are necessary, including the urgent need for a new crop of farmers who use modern technology.