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MIC invests R10m in crowd-farming fintech Livestock Wealth
A crowd-farming start-up in South Africa, Livestock Wealth, has been described as the “perfect example” of the kind of business the Mineworkers Investment Company’s Khulisani Ventures wish to invest in.
Nchaupe Khaole, CIO of the MIO, confirmed that Khulisani Ventures has invested R10 million in Livestock Wealth. Founded in Johannesburg by Ntuthuko Shezi, Livestock Wealth focuses on funding for cattle. It connects investors with farmers that require funding by using cattle as a form of investment.
“Inventions and innovations are the engines that power the growth of our economy,” remarks Khaole. “Livestock Wealth is one such entity, with innovation at its heart. It is the perfect example of the kind of companies we continue to seek out mutually beneficial partnerships with.”
Through Livestock Wealth, even the non-farming community are able to invest in livestock and crop farming through a cutting-edge platform poised to revolutionise farmers’ access to capital as well as the asset classes which retail and institutional investors can now gain exposure to.
The company, founded back in 2015, has already helped thousands of people to invest in tangible, growing assets at the click of a button, and has managed assets worth over R100 million across different product categories such as cattle-breeding, free-range oxen, organic garden tunnels and macadamia trees.
According to MIC impact investment manager Thato Ntseare, Livestock Wealth’s simple way of helping anyone buy and own real profit earning assets, while helping farmers grow and maintain assets until ready for market, was attracted them to the business. “They have embraced innovation and understand that creating innovative solutions to problems is the best way to grow,” he explains.
Shezi, who is also the chief executive of Livestock Wealth, says the partnership with MIC will go a long way in empowering their company in meeting its goals for expansion including broadening their access to markets and leveraging new growth opportunities.
“Farming is one of the oldest pillars of generational wealth. We understood this at Livestock Wealth and created a platform to make investment in farming accessible to anyone, anywhere. Which is why we, at Livestock Wealth, are so thrilled about this partnership with Khulisani Ventures. MIC’s investment in our company will allow us to scale our technology offering and prepare for growth beyond South Africa.:
In a media release, Khulisani Ventures says it is geared towards unlocking the high-growth potential of scalable, innovative, black-owned businesses.
