SilverClove Farms (Pty) Ltd Business Plan › Company Overview

2.1 Legal Structure and Registration

SilverClove Farms (Pty) Ltd will be incorporated as a private company under the Companies Act 71 of 2008 of South Africa. The Company will be registered with the Companies and Intellectual Property Commission (CIPC) and will comply with all applicable regulations including the Broad-Based Black Economic Empowerment (B-BBEE) Act, the Agricultural Product Standards Act, and relevant environmental legislation.

2.2 Founding Team

Lerato Ndlovu — Chief Executive Officer (40% Shareholding)

Ms Ndlovu brings 15 years of agribusiness executive experience, having previously served as Regional Director for a major South African fresh produce company. She holds an MBA from the University of Stellenbosch Business School and a Bachelor of Agriculture from the University of Pretoria. Ms Ndlovu’s expertise in agricultural business development, stakeholder management, and strategic planning will guide the Company’s growth trajectory.

Jan van der Merwe — Chief Operating Officer (35% Shareholding)

Mr van der Merwe is a qualified agronomist with 20 years of hands-on experience in commercial vegetable and spice farming in the Western Cape. He holds an MSc in Agronomy from the University of Stellenbosch and has managed farming operations exceeding 500 hectares. His technical expertise in garlic cultivation, soil management, and precision agriculture will underpin the Company’s production excellence.

Thandiwe Mabena — Marketing & Supply Chain Director (15% Shareholding)

Ms Mabena has 12 years of experience in fresh produce supply chain management and has established extensive relationships with major South African retail chains, including Woolworths, Pick n Pay, Checkers, and SPAR. She holds a BCom in Supply Chain Management from the University of Johannesburg. Her commercial acumen and market relationships will drive revenue growth and distribution expansion.

Employee Share Ownership Trust (10% Shareholding)

In alignment with B-BBEE principles and the Company’s commitment to inclusive economic participation, 10% of equity will be held in trust for qualifying employees. This structure supports both regulatory compliance and employee retention, aligning worker interests with long-term enterprise value creation.

2.3 Shareholding Structure

2.4 B-BBEE Compliance

The Company’s shareholding structure achieves a minimum Level 4 B-BBEE contributor status at inception, with the 40% black female ownership (Ms Ndlovu) and 15% black ownership (Ms Mabena) contributing significantly to the ownership element. The Employee Trust further strengthens the enterprise’s transformation credentials. Management will pursue progressive improvement toward Level 2 status through targeted skills development, enterprise development, and preferential procurement programmes.

2.5 Corporate Governance

SilverClove Farms will adopt governance principles aligned with the King IV Report on Corporate Governance. The Board of Directors will comprise the three executive founders supplemented by two independent non-executive directors with relevant agricultural and financial expertise. An Audit and Risk Committee will be established from Year 1, and the Company will engage an independent external auditor for annual statutory audits.

This document contains proprietary and confidential information. Distribution without written consent is prohibited.