Wednesday, September 10, 2025
One of the world’s largest forest management firms, New Forests, has made its inaugural move into South Africa, acquiring a stake in Rance Timber. The deal, part of New Forests’ African Forestry Impact Platform (AFIP), marks a significant step in the company’s growth across Sub-Saharan Africa. The partnership aims to strengthen the forestry industry in the region, contributing to sustainable forestry management while delivering measurable environmental and social benefits.
Located in the Eastern Cape, Rance Timber manages 14,000 hectares of pine plantations, producing raw materials for industries ranging from construction to paper manufacturing. The acquisition is a notable one for New Forests, as it represents the company’s first investment in South Africa and its second deployment in Sub-Saharan Africa. This venture also aligns with the increasing demand for sustainable forestry practices and the country’s robust regulatory framework.
“We are delighted to partner with Rance, a business renowned for its forestry management, sustainability, and innovation,” said Yida Kemoli, Managing Director for Africa at New Forests. “South Africa’s forestry sector ranks among the country’s top exporters, contributes significantly to employment, and benefits from robust regulation—making it an attractive market for impact-focused investors.”
Founded over a century ago, Rance Timber has established itself as a key player in South Africa’s forestry landscape. The company operates two sawmills and employs more than 1,400 people, with approximately 60% of its land dedicated to commercial forestry. The remaining land is set aside as indigenous woodlands, grasslands, and riparian buffers, preserving biodiversity and enhancing water quality. This commitment to environmental preservation complements the vision of AFIP and reinforces Rance Timber’s reputation as a leader in sustainable forestry practices.
Rance Timber’s legacy of excellence and innovation made it an ideal partner for New Forests. “We sought an investor who shares our philosophy of careful stewardship and whose expertise aligns perfectly with our legacy and long-term vision, ensuring ongoing value creation for employees, stakeholders, and the wider Amathole region,” said Chris Rance, finance director and shareholder at Rance Timber.
New Forests, through its AFIP initiative, targets plantation forestry assets across Sub-Saharan Africa, with a focus on investments that drive both financial returns and positive environmental impacts. The platform, launched in 2022, operates in partnership with British International Investment, Norfund, and Finnfund. The goal is to deliver competitive returns while advancing sustainable land management practices and creating local employment opportunities in the regions they invest in.
The forestry sector in South Africa plays a significant role in the country’s economy. Forestry is one of the top export industries in South Africa, with vast potential for growth. The country’s forestry assets are considered highly attractive due to the country’s favourable regulations, ensuring long-term sustainability. This makes it a prime location for both local and international investors looking to support sustainable development in the region.
New Forests’ investment in Rance Timber highlights the company’s strategy of building a diversified portfolio of forestry investments across Africa. By fostering partnerships with businesses that have a deep understanding of the local landscape, New Forests seeks to maximise the positive impact of its investments. These investments are not only aimed at enhancing financial returns but also at supporting biodiversity, improving water resources, and promoting climate change resilience.
Chris Rance also emphasised the importance of Rance Timber’s longstanding commitment to the region’s development. The company has dedicated substantial resources to sustainable practices, ensuring that its operations not only benefit the economy but also contribute positively to the Amathole region’s environment and community. This dedication to sustainability was a key factor in the selection of Rance Timber as a partner.
The AFIP platform continues to grow with its investments in Green Resources, marking another success in the platform’s mission to drive sustainable growth in Sub-Saharan Africa. As New Forests expands its footprint across the continent, it remains committed to its vision of combining financial success with tangible environmental benefits.
The partnership between New Forests and Rance Timber is expected to lead to further investment in the South African forestry sector, creating more opportunities for local communities while promoting sustainable land use. With an eye on future growth, both companies are poised to make a lasting impact on the region’s forestry industry, ensuring that it remains a key contributor to South Africa’s economy for generations to come.
In conclusion, the collaboration between New Forests and Rance Timber sets a new benchmark for sustainable forestry investments in Sub-Saharan Africa. As part of its wider strategy, New Forests is focused on building a strong presence across the African continent, contributing to the growth of the forestry sector and supporting the achievement of broader environmental and social goals..
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Tags: AFIP platform, forest management, Green Resources, New Forests, Rance Timber, South Africa, woodworking industry
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