Pan Africa
Investment Date: July 2022 

CMO is a Pan-African company that provides forestry asset owners, from smallholders to large-scale industrial operators, with the technical expertise required to obtain Forest Stewardship Council (FSC) certification.


Rhino Wood

Johannesburg, South Africa
Investment Date: February 2022 

Rhino Wood is a producer of modified wood products that replace expensive hardwood in applications that include decking, cladding, and structural lumber for outdoor applications. The company's patented thermal modification and wax impregnation process converts relatively inexpensive and abundant pine lumber to an extremely durable product that holds up to extreme weather conditions, and requires minimal maintenance. Rhino Wood offers the authentic look and feel of wood, with extreme durability without using plastics or harmful chemicals. The company's products are manufactured in South Africa and are used by customers globally.




South Africa
Investment Date: January 2022 

Bacarac Trading is a South African, Black Economic Empowered Enterprise (BEEE) with an investment holding in Hans Merensky Holdings (HMH). HMH owns 100% of Merensky Timber and is the majority shareholder of Westfalia Fruit. Merensky Timber owns and operates timber plantations, wood processing plants, and trading. Westfalia Fruit is a leading supplier of avocados to global markets.


Sustainable Forestry Investments B.V. / Form Ghana

Central Ghana
Investment Date: August 2021 

Form Ghana Ltd. is a forest plantation management company based in central Ghana that provides services in the field of reforestation of degraded Forest Reserves and plantation management. The company was established in 2007 and is a subsidiary of Sustainable Forestry Investments B.V. in the Netherlands. The company operates in a socially, ecologically and economically responsible way and has held Forest Stewardship Council Certification (FSC) since 2010. The company’s reforestation activities have also been independently validated under the Verified Carbon Standard (VCS) for carbon credits.



Limpopo Province, South Africa
11,000 hectares; 7,300 hectares plantable
Investment Date: August 2019 

Located in Limpopo Province, South Africa, Selokwe owns and operates forestry and perennial crop assets in partnership with ZZ2, one of South Africa’s largest and longest-operating agriculture companies. Selokwe owns 11,000 total hectares (7,300 plantable), of which up to 2,000 hectares are plantable for continued higher and better use development through the conversion of select areas of forestry to perennial crops, such as avocados, for export.

Vuka Timbers logo

Vuka Timbers

Mpumalanga, South Africa
Investment Date: August 2019 

Vuka Timbers is a 30 year old company that manufactures treated wooden poles for use in electricity transmission and distribution, telephone line support, and agricultural fencing poles into rapidly growing African markets.


Compagnie des Bois du Gabon (CBG)

568,543 hectares
Investment Date: February 2016
Exit Date: June 2022 to TotalEnergies

CBG is headquartered in Port Gentil and operates three large forestry concessions in Gabon.  The company harvests approximately 150,000 m3 per year of mixed tropical hardwood species such as Okoumé, Azobe, Niove, and Padouk and processes these logs through their own manufacturing facilities.

CBG’s sawmill produces lumber for both local and export markets, while its rotary veneer plant produces Okoume veneer for The Joubert Group which is Europe’s largest plywood producer. CBG’s people, planning, logistics and Reduced Impact Logging approach all contribute to its very high standard for sustainable tropical forest management and its products are all Forest Stewardship Council (FSC) Certified.

In June 2022, CAP's stake in CBG was acquired by TotalEnergies to help the company achieve their commitment to become net zero by 2050. Read more about TotalEnergie's plans for CBG here.

Global Woods

12,182 hectares
Investment Date: March 2015
Exit Date: November 2020 to Nile Fibreboard, Ltd.

Global Woods operates a forestry concession in the Kikonda Forest Reserve in Uganda. 8,000 hectares of pine and pine and eucalyptus plantations are currently under development and will supply the growing local and regional markets with a basket of products including utility poles, structural timber, and biomass energy. The remainder of the concession is managed for conservation purposes. Uganda has excellent conditions for biological growth, and Global Woods is one of the best-managed plantations in Uganda today, with quality nursery operations, planting, and silviculture management, as well as best in class ESG management.

In November 2020 Global Woods was acquired by Nile Fiberboard Ltd. which is manufacturer of high value wood products such as plywood, particle board and utility pools for the East African market.

Imvelo Forests

Mpumalanga, South Africa
3,671 hectares
Investment Date: May 2013
Merged into the MTO Group in July 2017

Located in Mpumalanga, South Africa, Imvelo Forests is a forest management company which owns plantation assets which supply logs for building, fencing, and transmission poles as well as for mining timber and pulp.

Ramanas Farms

Sabie, South Africa
8,300 hectares
Investment Date: January 2013
Merged into the MTO Group in July 2017

Ramanas Farms is an 8,300 hectare Forest Stewardship Council (FSC) Certified timber plantation which produces transmission poles, sawlogs, and mining timber logs.

Peak Timbers

Piggs Peak, Swaziland
31,500 hectares
Investment Date: May 2012
Exit Date: February 2021 to TWK Agri

Peak Timbers is a 31,500 hectare Forest Stewardship Council (FSC) Certified timber plantation and saw-milling business located in Swaziland which produces poles, mining timber and pulpwood.  One-third of the plantation is managed for conservation purposes, the balance consists of highly productive pine and eucalyptus plantations. Peak is also the largest employer in northern Swaziland with over 1,200 direct and indirect employees.

In February 2021 Peak Timbers was acquired by TWK Agri which is a diversified group of companies operating in the agriculture and forestry sectors in Southern Africa.

Kilombero Valley Teak Company Limited

Morogoro Region of Southern Tanzania
28,000 hectares
Investment Date: March 2011

Kilombero Valley Teak Company (KVTC) owns and operates Africa’s largest, privately owned teak plantations and sawmill operations.  The company is located in the Kilombero and Ulanga Districts of the Morogoro Region of Southern Tanzania. KVTC assets include approximately 8,150 planted hectares and total landholdings of 28,000 hectares, and sawmill operations with a production capacity of 35,000 cubic meters of teak per year.

MTO Group

Western Cape, Eastern Cape and Mpumalanga Regions of South Africa
57,100 hectares
Investment Date: October 2010

MTO is an integrated timber management company which owns and operates pine and eucalyptus plantations, saw-milling operations and biomass energy generation facilities across South Africa from Stellenbosch to Hazyview.  The company harvests over 600,000 cubic meters of timber per year and supplies wood products into rapidly growing markets driven by urbanization and population growth across Africa. MTO manages its assets in compliance with Forest Stewardship Council (FSC) guidelines.