News

S AFRICA: Foreign investment "a catalyst" for South Africa - Warwick MD

Most popular

The wine category in 2019 - just-drinks' Review

Interview - Diageo's chief digital officer - Pt I

3 cocktail trends for 2019 – Diageo's World Class

Constellation cuts losses on Ballast Point folly

Interview - Pernod Ricard CFO Helene de Tissot

MORE

South Africa’s wine trade is attracting foreign investment at a significant rate and the trend shows little sign of declining, according to an industry expert.

Speaking at the South African wine industry's Cape Wine 2012 trade fair this week, Mike Ratcliffe, MD of Warwick Wine Estate and Vilafonte winery, said that the country's wine industry is seeing a “significant acceleration” in foreign companies and individuals investing in brands and wineries.

“In the last 20 years, the technological ability of South Africa’s winemakers has exploded,” said Ratcliffe. “There are some great winemakers and people from around the world who are really getting stuck in.”

He added: “It’s not a slow trend. We are seeing a significant acceleration in investment in South Africa's wine industry.” 

Ratcliffe, who showcased a number of wine brands that had benefited from investment from outside South Africa, later told just-drinks that part of the attraction is the relatively cheap land the country offers. 

However, he told the seminar that not everybody was supportive of this trend. “There are detractors who say we shouldn’t be selling our wineries to foreigners,” he said. “I would disagree. It can be a catalyst to take our industry to great heights.” 

He also told just-drinks that investors from China are starting to show "a lot of interest" in South Africa. 

Yesterday, Troy Christensen, CEO of Accolade Wines, told exhibition attendees that the country needs to develop "brand South Africa" to help boost the image of its wines abroad.


Sectors: Wine

Companies: Accolade Wines

Related Content

"People always complain when they see foreign investment" - How overseas money is changing South Afr...

South Africa's premiumisation must reach all price tiers - WoSA - Cape Wine 2018

South Africa's premiumisation must reach all price tiers - WoSA - Cape Wine 2018...

"The mainstream part of our wine portfolio is incredibly important for Africa" - just-drinks meets D...

Heineken invests in South Africa as turf war with Anheuser-Busch InBev intensifies

Heineken invests in South Africa as turf war with Anheuser-Busch InBev intensifies...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?