Keletso Pekile’s acquisition of a learning curve farm in KwaZulu-Natal’s south coast for R3 million has drawn attention due to its significant price tag, especially considering the typical property values in Port Edward.
The farm, previously owned by Alida Stofberg, has been the subject of news coverage due to municipal water shortages in the area impacting local farmers.
Despite these challenges, Pekile and his partner, Ntokozo Pearl Mbali, have entered into a purchase agreement encompassing the farm, its equipment, machinery, vehicles, land, and tractors.
They says the area is rich in bananas and macadamias which they intend to capitalise on and create jobs for young people and women in the community. The partners said that many lives are going to be changed in the area through their operations.
Pekile said as a person who comes from humble beginnings when he started farming, he could not afford an irrigation system or operate a multimillion-rand farm but he believes they are going to overcome all the challenges.
Reviving the farm
Although the properties in Port Edward averages R900 000, Pekile believes the learning curve farm is priced fairly. “We have a turnaround strategy that we will put in place to see the farm being super productive and we are confident in it,” he said.
Pekile added that 550 macadamia trees on the farm are already yielding high-quality nuts. “The average expected yield of the nuts is estimated at R1.4 million for year 2025,” he said.
According to Pekile, Stofberg has invested a lot in the farm in terms of inputs and must be fairly compensated. He emphasised that the way the sale deal was structured it would be unfair to ask for less.
Pekile is also a co-founder of an agri-business called KayPea Group Pty Ltd. “KayPea Group Pty Ltd aims at acquiring bigger agri-companies and the learning curve farm was not fitting our target market, hence I opted to approach the owner personally,” he said.
Their acquisition of the learning curve farm represents a significant investment in the agricultural sector mainly to secure jobs on the farm and create more in the long term.
Driven by his confidence in its potential productivity and his strategic vision for his company, KayPea Group Pty Ltd, Pekile believes purchasing the farm was the beginning of buying more land and reviving the economy of the area through agriculture.
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