Ikhaya Broilers Business Plan — Company Overview & Governance

Private company under the Companies Act 71 of 2008, incorporated 3 October 2025

Company Overview & Governance

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2.1 Corporate details

Item	Detail
Legal name	Ikhaya Broilers (Pty) Ltd
Registration number	2025/774209/07
Incorporation	Private company under the Companies Act 71 of 2008, incorporated 3 October 2025
Farm	Farm Emoyeni, Portion 7, Bergville District, uThukela, KwaZulu-Natal — 34 ha under registered long lease with option to purchase
Production capacity	4 houses × 20,000 birds = 80,000 birds per cycle; 7 cycles per annum
Annual output	560,000 birds; approximately 1,011 tonnes live weight at steady state
B-BBEE status	Level 1 contributor; 100% Black-owned; 18% community trust; 7% employee trust
Registrations	SARS compliant; VAT registered; CSD registered; SAPA membership on commissioning
Primary funders sought	Land Bank Blended Finance Scheme; DALRRD producer support; commercial senior debt

2.2 Vision and operating principle

The vision is to build a disease-resilient, commercially disciplined broiler business that supplies affordable protein into the KwaZulu-Natal market and creates durable rural employment and ownership.

StrengthThe operating principle is the right one, and it is stated with unusual clarity

Broiler farming is won or lost on three numbers, feed conversion ratio, mortality and cycles completed per year. Everything in this Plan, from house specification to staff incentives, is designed to protect those three numbers, and the Company states explicitly that it will not pursue scale ahead of performance: the second phase is conditional on the first four houses achieving benchmark production. For a funder, that sequencing discipline is worth more than an ambitious expansion narrative. Agricultural start-ups characteristically fail by adding capacity before mastering the unit they already have.

2.3 Shareholding

Figure 4. Shareholding — community and employee trusts hold 25% between them.

Shareholder	%	Nature & role
Thandeka Mabaso	38%	Founder and Managing Director; contributes the lease, development work to date and R2.0m of the equity injection
Sipho Radebe	22%	Operations Director; former production manager on a 500,000-bird commercial operation; contributes R1.2m
Ithemba Agri Trust	18%	Broad-based community trust for the Emoyeni and Okhombe communities; vendor-financed, repaid from distributions
Nkosi Family Investments (Pty) Ltd	15%	Local agricultural investment vehicle providing R2.0m of the equity injection
Ikhaya Employee Trust	7%	Evergreen trust covering all permanent employees, vesting over four years

2.4 Board and management

Name	Role	Profile
Dr. Nomsa Khumalo	Independent Non-Executive Chairperson	Veterinarian with 24 years in poultry health; former provincial state veterinarian; chairs the biosecurity and risk committee
Thandeka Mabaso	Managing Director	BSc Agriculture (UKZN); eight years in broiler production including farm management of a 320,000-bird operation
Sipho Radebe	Operations Director	Twenty-two years in commercial broiler production; production manager responsible for FCR and mortality across six houses
Anita Pillay	Financial Director (part-time)	Chartered accountant (SA) specialising in agricultural enterprises; owns the model, lender reporting and cash discipline
Mandla Zwane	Non-Executive Director (Nkosi nominee)	Agricultural investor; portfolio includes grain and livestock operations across KwaZulu-Natal
Busisiwe Ndlovu	Non-Executive Director (Community Trust)	Community development practitioner; trustee governance and local employment oversight

StrengthA veterinarian chairing a monthly biosecurity committee is a genuine governance signal

The board meets quarterly under a charter reserving capital commitments above R500,000, related-party transactions and distributions. More notably, a biosecurity and risk committee chaired by the veterinarian chairperson meets monthly during the first two years. That is an unusual emphasis for a farm of this size, and a deliberate one: in an industry where a single disease event can destroy the enterprise, placing clinical expertise at board level and giving it a monthly cadence aligns governance attention with the actual tail risk. Funders should regard this as materially strengthening the credit.