South Africa holds one of the world’s larger goat herds, yet the sector remains overwhelmingly informal and unprocessed — domestic and export demand for formally-slaughtered, traceable goat meat (capretto) is rising, with production moving toward an estimated 143,000 metric tonnes by 2026 — leaving the higher-margin processing, certification and branded-export value largely uncaptured. KarooPrime Capretto addresses this with a vertically-integrated model spanning a feedlot, an integrated processing hub and a cold chain, drawing on Eastern Cape, Free State and Limpopo supply and a contract-farmer network. An R185-million Phase-1 capital raise commissions the first integrated processing hub, feedlot and cold chain, scaling toward a steady-state throughput of 400,000 goats per year — with a base-case EBITDA margin deliberately set at a conservative lower bound (rising to 20% by Year 7), delivering a 35.5% base-case project IRR, a 48.0% equity IRR, an NPV of R367 million at a 15.5% WACC and a 5.8-year capital payback, with returns resilient to a modelled downside.

The base-case EBITDA margin is deliberately set at the conservative
lower bound (rising to 20% by Year 7) versus management’s internal
20–28% target range, to support a bankable downside view. Base-case project IRR of 35.5% sits above the 18–26% headline range
cited in earlier feasibility work; the downside (import-parity maize
squeeze) scenario returns 19.8%, within that band. Returns are sensitive
to realised goat prices and feed costs. Recipients should commission independent technical, legal, tax and
financial due diligence before committing capital. Figures are stated in
South African Rand (ZAR) and are nominal unless otherwise
indicated.