UTA Success Story Thokozani Ovation

In 2013, the UTA assisted Thokozani to develop a business plan and restructuring of the new company (Thokozani Staff Holdings) that had just obtained majority shareholding in the Diemersfontein Group. The UTA business plan enabled Thokozani Staff Holdings to obtain funding through the Agri BEE Fund. Furthermore, in 2015, the UTA continued the support for Thokozani Staff Holdings in their quest to update the business plan in respect of the following:

 

• Thokozani Staff Holdings (TSH) to become the majority shareholder in Thokozani Winelands Investments (Pty) Ltd, with the Diemersfontein Group holding only 16.8% of the shares.
• TWI to become the sole shareholder of Thokozani Winelands Properties (TWP).
• To develop formulas to be used in Thokozani Staff Holding’s financial matters with respect to volumes of wine sales for both local and international sales.

The business plan has been finalised and a new Thokozani wine label called Ovation was launched. The Minister of Economic Opportunities, Alan Winde, also attended the launch at Diemersfontein Wine Estate. The new wine will be marketed by Woolworths locally.