On the KZN South Coast, in Port Edward, a significant transaction has taken place with Keletso Pekile acquiring a banana and macadamia farm, named Learning Curve Farm, for R3 mln (€150,000). This purchase price is notable given the average property values in the area.
The farm, previously owned by Alida Stofberg, includes various assets such as implements, machinery, vehicles, farm land, and tractors. Pekile, alongside partner Ntokozo Pearl Mbali, sees potential in the farm, citing a strategic turnaround plan aimed at enhancing productivity.
They anticipate a yield of high-quality macadamia nuts, projecting an income of R1.4 mln by 2025. Pekile, also a co-founder of KayPea Group Pty Ltd, clarified that this acquisition is separate from the company's operations, aligning with future strategic plans. Despite the challenges, including recent municipal water shortages, the new owners are poised for a productive future.
Source: citizen.co.za