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BL Premium reports that in a drive to upskill and empower farmworkers, regenerative livestock farmer Angus McIntosh of Farmer Angus has sold 85% of his egg business to some of his former employees.
Regenerative farming aims to increase biodiversity and enhance the ecosystem by putting carbon back into the soil. McIntosh practices regenerative agriculture through the rotational grazing of animals such as pigs, cattle and chickens across the land. On the egg business deal, McIntosh said it was vendor-financed and he would only get his pay out from the profits of the business. Based on current profits, the business will be paid off in less than four years. Thobelani Mngomezulu, one of the former employees set to benefit from the sale of the egg business, commented: “As someone who has a deep love for nature I believe that regenerative agriculture is how we can heal the land.” McIntosh started farming in Stellenbosch in 2009. He said one of the major benefits of the shareholding structure was that the business could access government funding, which was the only way the business was able to grow nationwide.
- Read the full original of the report in the above regard by Bekezela Phakathi at BusinessLIVE (paywall access only)
Get other news reports at the SA Labour News home page