Moz Fibra Logo

Moz Fibra

Investment Date: December 2023

Mozambiqe Fibra Ltda ("Moz Fibra"), a subsidiary of Mozambique Tree Farming (MTF), specializes in providing transportation and logistics solutions for pulpwood material exports from Mozambique's Beira Harbour. With a strategic focus on expansion, Moz Fibra is enhancing its operational capacity and capabilities to venture into eucalyptus wood chip production and export, catering to the increasing global demand.

Established in 2013, Mozambique Tree Farming was founded by a consortium of South African entrepreneurs. Drawing from extensive experience within the NCT Forestry Agricultural Co-operative Limited, these entrepreneurs have a rich background in supplying timber domestically to SAPPI and Mondi, and internationally through NCT to woodchip customers serving the pulp and paper industry.


Merensky Timber

South Africa
Investment Date: April 2023

Merensky Timber is a leading forestry and timber processing company based in South Africa. With over 70 years of experience in the industry, Merensky Timber has established a reputation for producing high-quality timber products that are sustainable, environmentally friendly, and meet the needs of a wide range of customers. The company operates its own forestry plantations and processing facilities, allowing it to control the entire supply chain from seedling to final product. Merensky Timber's products include sawn timber, plywood, and laminated beams, among others, which are used in a variety of applications, from construction and furniture to packaging and industrial applications. In addition to its focus on sustainable forestry practices, Merensky Timber is committed to social responsibility and community development, providing employment opportunities, and supporting local communities in the areas where it operates.


Pan Africa
Investment Date: July 2022

CMO specializes in providing forestry asset owners across Africa with the technical expertise necessary for obtaining Forest Stewardship Council (FSC) certification. CMO’s services are tailored to meet the needs of both smallholder and large-scale industrial operators. As a Pan-African company, CMO is committed to supporting the sustainable management of forests throughout the continent and ensuring that they are responsibly managed for future generations. By assisting their clients in obtaining FSC certification, CMO helps them to demonstrate their commitment to responsible forestry practices and to differentiate themselves in a competitive market.


Kudu Biomass Group

Kudu Biomass Group

Investment Date: May 2022

Kudu Biomass Group (KBG) is a joint venture formed with Konigstein Capital, a Namibian private equity group. KBG aims to produce and sell high-quality charcoal, including a significant portion of restaurant-grade charcoal for export to Europe. To achieve this, KBG will use mechanized selective thinning of encroached rangeland and in-field whole-tree processing to produce "billets", which will then be converted to lump charcoal using a clean and efficient centralized retort technology developed by CAP in partnership with its technical partner, TFD.


Rhino Wood

Johannesburg, South Africa
Investment Date: February 2022 

Rhino Wood is a producer of modified wood products that provide a sustainable and durable alternative to traditional hardwood. The company’s patented thermal modification and wax impregnation process transforms inexpensive and abundant pine lumber into a product that is resistant to extreme weather conditions and requires minimal maintenance. Rhino Wood’s products have the authentic look and feel of high-value hardwood such as teak, without using plastics or harmful chemicals and are used globally in a variety of outdoor applications including decking, cladding, and structural lumber.



HMH / Merensky Timber

South Africa
Investment Date: January 2022 

Bacarac Trading is a South African company that has been recognized as a Black Economic Empowered Enterprise (BEEE). Through its investment holding in Hans Merensky Holdings (HMH), Bacarac is able to leverage the success of HMH's subsidiaries, Merensky Timber and Westfalia Fruit. Merensky Timber is an integrated timber company that manages plantations, processes wood, and engages in trading activities. Westfalia Fruit is a major supplier of avocados to global markets.


Sustainable Forestry Investments B.V. / Form Ghana

Central Ghana
Investment Date: August 2021 and November 2022 

Form Ghana Ltd. is a forestry management company based in central Ghana that specializes in reforestation and plantation management with a total 10,000 hectares of teak and indigenous trees. The company was founded in 2007 and is a subsidiary of Sustainable Forestry Investments B.V. in the Netherlands. Form Ghana is committed to operating in a socially, ecologically, and economically responsible manner, and has held Forest Stewardship Council Certification (FSC) since 2010. The company's reforestation efforts have also been independently validated under the Verified Carbon Standard (VCS) for carbon credits. Form Ghana’s teak assets will reach full rotation and productivity in the coming years.



Selokwe (formerly Mphome)
Limpopo Province, South Africa
Investment Date: August 2019  

Selokwe is a company that was created through the acquisition of underperforming forestry assets from Silicon Smelters, a subsidiary of metallurgical producer Ferroglobe. Selokwe is based in Limpopo Province, South Africa, and operates forestry and perennial crop assets in partnership with ZZ2, a well-respected agriculture company in the region. Selokwe owns a total of 11,000 hectares of land, of which 7,300 hectares are plantable. The company is capitalizing on the higher and better use (HBU) of its land and other resources by converting certain areas of forestry to perennial crops, such as avocados, for export to Europe and eventually Asia. In February 2023, Mission Produce announced a strategic investment to become a minority shareholder in Selokwe Agri.

Vuka Timbers logo

Vuka Timbers

Mpumalanga, South Africa
Investment Date: August 2019 

Vuka Timbers has a 30-year-old track record of manufacturing and supplying treated wooden poles for a broad range of applications including electricity transmission and distribution, telephone line support, and agricultural building and fencing. The company expects to grow through the sale of products which are critical for supporting electricity infrastructure growth in rapidly growing African markets.


Compagnie des Bois du Gabon (CBG)

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

CBG is an integrated forestry company headquartered in Port Gentil, Gabon. The company operates three large forestry concessions for a total of 586,000 hectares in the region and harvests approximately 150,000 cubic meters of mixed tropical hardwood species, such as Okoumé, Azobe, Niove, and Padouk, each year. These logs are processed through CBG's own manufacturing facilities, which include a sawmill and a rotary veneer plant. The sawmill produces lumber for both local and export markets, while the veneer plant produces Okoume veneer for The Joubert Group, Europe's largest plywood producer. CBG is committed to sustainable forest management and has achieved Forest Stewardship Council (FSC) certification for all of its products. In June 2022, ASFF's stake in CBG was acquired by TotalEnergies as part of the company's efforts to become net zero by 2050. Additional information regarding TotalEnergie's plans for CBG are found here.

Global Woods AG

8,000 ha of pine and eucalyptus
Investment dates: March 2015 and June 2020
Exit Date: November 2020 to Nile Fibreboard

Global Woods operates a forestry concession in the Kikonda Forest Reserve in Uganda, where beginning in 2002, it has developed approximately 8,000 hectares of pine and eucalyptus plantations. The company supplies the local and regional markets with products such as utility poles, structural timber, and biomass energy. The remainder of the concession is managed for conservation purposes. Global Woods is known for its high-quality nursery operations, planting, silviculture management, and environmental, social, and governance (ESG) practices. In November 2020, the company was acquired by Nile Fiberboard Ltd. which is a manufacturer of high-value wood products such as plywood, particle board, and utility poles 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

Imvelo Forests is a forest management company which owns plantation assets that supply logs for building, fencing, and transmission poles as well as for mining timber and pulp production.



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 management company which owns plantation assets that supply logs for building, fencing, and transmission poles as well as for mining timber and pulp production.

Peak Timbers

Investment Date: May 2012
Exit Date: February 2021 to TWK Agri

Peak Timbers Limited is a pine plantation forest and sawmilling company located in eSwatini (formerly Swaziland). The company is certified by the Forest Stewardship Council (FSC) and owns approximately 31,000 hectares of land, 21,000 of which are suitable for planting. The company's plantation will produce 650,000 cubic meters of timber per year when fully mature. In 2021, Peak Timbers was acquired by TWK, to expand their operations in the region.

Kilombero Valley Teak Company

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

Kilombero Valley Teak Company (KVTC) is a plantation company based in Tanzania that grows and processes teak. The company owns a 99-year lease on 28,000 hectares of land and has planted approximately 8,000 hectares of teak trees since 1992. KVTC operates a sawmill with a capacity of 35,000 cubic meters and produces a range of value-added teak products, including flooring, door frames, and finger-jointed products. The company primarily exports its products to Asian markets, particularly India, through the port of Dar es Salaam.

MTO / Cape Pine Investment Holdings

Western Cape, Eastern Cape and Mpumalanga Provinces of South Africa
53,400 ha (34,100 ha pine / 19,300 ha eucalyptus)
Investment Dates: October 2010 and January 2013

MTO Forestry Proprietary Limited (MTO) is a leading South African integrated forestry company that holds FSC certification. The company’s operations span across the Eastern, Southern, Western Cape, and Mpumalanga provinces, where it holds long-term rights to 33,000 hectares of pine and 19,000 hectares of eucalyptus plantations. MTO owns and operates 2 pine sawmills, 2 pole-treating plants, a timber trading business, and a 215-hectare macadamia orchard. MTO’s annual harvest exceeds 600,000 cubic meters of timber, which supplies rapidly growing markets driven by urbanization and population growth throughout Africa. The company is also a minority shareholder in Selokwe Agri which is a CAP portfolio company focused on the production of avocados and macadamias near Tzaneen.