About The Fund
The South African Fisheries Development Fund (the Fund) is a registered non-profit company in terms of the Companies Act 71 of 2008. It was established by Brimstone Investment Corporation Limited (Brimstone) and Sea Harvest Corporation (Proprietary) Limited (Sea Harvest) to empower local fishing communities and promote access into the South African fishing sector.
The vision of the Fund is to assist small, medium and micro enterprises (SMMEs) and small-scale fishing communities with their development by providing business support; skills development; accidental death or disability cover and alternative economic opportunities.
The Fund seeks to invest R100 million over the next ten years with an initial focus on supporting small-scale fishing communities over the next decade.
Sea Harvest is a leading, black-owned, responsible, internationally recognised, vertically integrated seafood and branded fast-moving consumer goods (FMCG) agri-business. Established in 1964, Sea Harvest is now a household brand in South Africa and beyond. Its purpose is to create value that fuels economic growth and benefits society through job creation, food security and social transformation. Sea Harvest seeks to drive societal change and expand the circle of benefit to historically disadvantaged individuals.
Brimstone is a South African black controlled and managed investment company employing in excess of 4 500 employees in its subsidiaries and in excess of 24 000 in its associates and investments. The company seeks to achieve above average returns for its shareholders by investing in wealth creating businesses and contribute innovative ideas, management expertise and impeccable empowerment credentials. In order to progress transformation in the South African economic sector, Brimstone formed the Brimstone Empowerment Share Trust, the purpose of which is to create a more sustainable model of support to organisations by awarding them with Brimstone shares at no cost to the awardee non-governmental organisation or public benefit organisations. To date multiple organisations with a broad base of beneficiaries have been awarded in excess of 1, 3 million Brimstone shares.