Mashare Agri Group plans to increase blueberry production by 30 hactares by 2025 as part of its expansion plans for the project.
Königstein Capital has overseen the investment of N$130 million in Mashare Agri Group’s flagship, Mashare Blueberry project, now in its fifth year.
The project has 60 hactares under production and secured a further N$140 million for future expansion.
Königstein Capital partner and Spitz Capital Chief Investment Officer, Albert Basson, said through Spitz Capital, a fund managed by Königstein Capital, the Government Institutions Pension Fund of Namibia (GIPF) provided the development capital.
“Roughly N$300 million has been invested in Mashare Agri Group, which encompasses the blueberry project. It’s important to acknowledge the critical role of the GIPF in making this project possible. Their initial investment through Spitz Capital, a fund managed by Königstein Capital, provided the development capital and was a catalyst for establishing the blueberry industry in Namibia,” said Basson.
Basson said the project has already generated 130 permanent jobs, with the potential to increase more than tenfold.
“We have created 130 permanent jobs and up to 1,000 seasonal jobs, with the potential to reach 4,500 upon achieving long-term production goals,” he said.
The project aims to expand blueberry production to over 300 hectares, which would result in 350 permanent jobs and 4,500 seasonal jobs.
Basson revealed that Königstein Capital is actively exploring opportunities to expand blueberry production to other regions within Namibia, with active exploration for new opportunities underway.
Basson said Königstein Capital envisions the Kavango region as a major hub for blueberry production in the future.
“The region has potential for over 2,000 hectares under cultivation in the long term, which could generate significant job opportunities, with estimates exceeding 2,000 direct jobs and close to 30,000 seasonal positions,” he said.
Basson highlighted the project’s innovative approach, noting, “Mashare Agri Group has established an internationally registered trial site to assess the viability of different blueberry varieties under Namibian conditions.”
Additionally, the project includes a 2-hectare trial block for avocados and utilises a center pivot irrigation system across 680 hectares, 280 of which were newly developed by the group.
Moreover, Mashare’s blueberry export performance faced challenges in 2023 due to an extreme frost event, impacting yields and preventing the farm from reaching its initial export targets.
Looking ahead, Basson noted that the 2024 export target is set at 700 tonnes.
He also mentioned plans to expand into new markets, adding, “We are planning to enter the Finnish, Swedish, and Norwegian markets. Additionally, gaining market access to China is a long-term strategic focus.”
The current export markets for Mashare blueberries include the Netherlands, Germany, France, Great Britain, Spain, the Middle East, and Hong Kong.
In terms of new ventures, avocado production at Mashare is currently in the trial phase, with a 2-hectare block established to assess the viability of this crop.
“Data collection is ongoing, and no commercialisation decisions have been made yet. The current focus is on the 2-hectare trial block. Future expansion will depend on the results and commercialisation decisions,” he said.
He added that while various citrus and nut crops are also being explored, the primary focus remains on blueberries due to their significant impact on job creation.
“Investment to date has primarily focused on blueberry production, and there have been no material investments in avocados or other permanent crops yet,” said Basson.
During a recent visit, GIPF Principal Officer Martin Inkumbi Inkumbi expressed his satisfaction with how the institutional savings, namely those of the GIPF, have positively impacted the Namibian economy by earning a return and benefiting the GIPF members in the long term.
He said the project injects approximately N$1 million to N$1.5 million per month in the local economy in the region.
“This has a positive impact on the livelihood of the employees, their family members, and the region at large. I do believe this is a sector that has potential. They continue trying a variety of blueberries, they have approximately six different varieties, with scope for expanding,” Inkumbi said.
