Years of hard work finally paid off for the beneficiaries of a thoroughbred industry transformation programme.
The programme was the initiative of the Cape Breeders Club and Racing South Africa in conjunction with the Department of Trade and Industry (DTI) an the Western Cape agricultural department.
The project was launched after the DTI agreed to support and provide seed capital of R300 000 per co-op to an initial 10
cooperative schemes, with five in the Western Cape , two in the Eastern Cape and three in KwaZulu-Natal
Four yearlings owned by four of the 10 co-ops were up for sale at the Cape Premier Yearling Sale held in Cape Town recently.
Weanlings are purchased by the co-ops and then resold as yearlings the following year.
DTI deputy director general Tsepiso Makgothi said, “The goal of these co-ops was to create sustainable business
opportunities for previously disadvantaged persons involved in the thoroughbred industry.
At the sale, Western Cape agriculture minister Gerrit van Rensburg said, “This is an exciting development and a
breakthrough for a BEE scheme in the thoroughbred industry and we’re very proud of their achievements.”
Profits made from the sale of the yearlings will be re-invested for a priod of three years, during which time the additional horses will be purchased and sold each year.
At the end of the three years, members will vote on how the profits are to be invested, according to the Western Cape agricultural department. – Denene Erasmas
