The Franschhoek Country Club Estate Development Company (Pty) Ltd (Frandevco), developers of the Fransche Hoek Estate, handed over a financial contribution to the Fremco Trust, which represents community-based organizations in Franschhoek.
The development of the Fransche Hoek Estate flowed from a social compact that was signed in 1998 by stake holders, including the then Franschhoek Municipality, as part of the Franschhoek Empowerment and Development Initiative (FEDI). Fremco each year awards bursaries to children from the Franschhoek community and donates a percentage of its income to the Mont Rochelle Nature Reserve.
The project was financed by the Development Bank of Southern Africa (DBSA) and implemented by Frandevco. A unique development model was used, which is being used on other projects in South Africa as well.
At the time of its formation the activities of the Fremco Trust were endorsed by President Nelson Mandela.