The archives go back 14 years and are available free to print subscribers who have registered online.
  Search 
Issue  Archives
   


Cover Story
FM Fox
Money & Investing
Features
FM Life

REGULARS
Editor's Note
Editorials
Technology
Opinion
People
Letters
Did You Hear?
Another Week
Economic Indicators

  • Budget 2010
  • Click here for full list of past special reports online




  • AdFocus 2009
  • Top Companies 2009
  • Ranking the Analysts 2009
  • The Little Black Book
  • Top Empowerment Companies 2009




    Top Jobs



    Winning Tenders
    Strategic Empowerment
  • Virtual Books





    Help
    Search
    Subscribe
    About FM
    New Web Users
    Log in
    Past Issues
    People Index
    Advertising Rates
    Advertise
    Online Adrates
    Online Advertising
    Contact Us - email
    Contact Us
    BDFM BEE credentials
    FM Essentials
    Career Junction



    Marketing in SA
    Business Finance
    HR Management
    Simply Successful Selling
    Intro to Company Law
    Cyberlaw
    Management & Treasury Operations





    22 May 2009 Xerox. The OriginalXerox. The Original

    THE FM INTERVIEW

    Galloping ahead





    Michèle Alexander meets Phindi Kema, chair of Iph'iNtombi Group

    Phindi Kema is a one-of-a-kind woman, SA's only black commercial breeder of thoroughbred horses.

    Kema (37) grew up on a farm in Frankfort, Eastern Cape. She has always had a special bond with the land. In high school she was one of only two girls who chose to study agriculture instead of home economics. But on leaving school, she studied law at Fort Hare University. Her first job was in the Eastern Cape local government. Then she worked as a co-ordinator for the Truth & Reconciliation Commission.

    She moved to Johannesburg to join Spescom as an empowerment specialist but, in 2005, joined Spier Wine Estate. Wandering through the vineyards, Kema felt her love of the land being reignited. So she set her sights on a citrus farm in Addo, Eastern Cape.

    However, negotiations with government to acquire the 40 ha farm were tortuous. "It took me nine months of blood, sweat and tears to seal the deal through the department of land affairs."

    But that was only the beginning of the rough road ahead. "Decision makers don't understand that you need more than arable land and a favourable climate. You need knowledge and human and financial capital. It was a battle to get support."

    Kema was extremely disappointed when a development grant promised to her for the years 2007/2008 did not come through from government. But she refused to give up. "I realised I had to have a proper business plan and make the business work on my own. Tough circumstances build character."

    During her first two seasons, she exported all her fruit, but found the export market risky and costly. This year she has a manager running the farm and at least 40% of her crop will be channelled to the local market.

    Kema's interest in horses started through a friendship with her neighbour, the late Elwyn Phillips, who was a well-known thoroughbred breeder. In 2007 she bought his farm, which she renamed Iph'iNtombi, as well as his stock.

    Kema says Phillips' passion for thoroughbreds was infectious. "But again I had to learn about the intricacies of the business the hard way. I have made mistakes, but the most important thing is to correct them and go forward."

    Kema made waves as the first black seller at the 2007 national yearling sale in Gauteng, where her six yearlings were snapped up. Mary Slack bought her filly Midnight Queen, and Fair Report, bought by Mike McLachlan, has already won two races.

    "I also have high hopes for another one of my fillies, Thandeka," says Kema. "I'm looking forward to seeing her race, and hope to breed with her."

    HOW SHE CHILLS
    Enjoys being the mother of three daughters
    Reads anything from business and philosophy to biographies

    The first "crop" of Kema's own foals will be sold in 2010. "It's all about genes, and I got the studs I wanted. Though some think the industry is about old white money, I have been given a lot of support by successful stud farms. If you are determined, people will embrace you and assist you. In the long term you will add value to their business."

    Kema is moving her breeding operation to the Western Cape hub. She is concerned about public perceptions. "Horse racing is not a fashion event. It's about the performance of superb horses in which a lot of time and money has been invested, and this is often not appreciated."

    Kema says the industry is battling to attract new buyers. Her new plan will take a high-risk product and make it more viable to investors by the addition of tourism, lifestyle property development and horse-racing models. She has appointed a new CEO, Owen van Rooyen, whose mandate will be to put a structure in place and grow the enterprise.

    "Owen's appointment will give me more time to [realise] my vision of the company," says Kema. "Despite the economic climate, I believe now is the time to buy the best European and American blood stock because one is sure to get a good return on investment."






    BDFM Publishers (Pty) Ltd disclaims all liability for any loss, damage, injury or expense however caused, arising from the use of, or reliance upon, in any manner, the information provided through this service and does not warrant the truth, accuracy or completeness of the information provided. The publisher's permission is required to reproduce the contents in any form including, capture into a database, website, intranet or extranet.
    © BDFM Publishers 2010


    Member of the Online Publishers Association