Igrovest Group (Pty) Ltd
| Business Location: | Rural area - Villages |
| Province | North West |
| Branch: | Dr Ruth Mompati |
| Business Start Date: | 2019-01-17 |
| Busniess Type: | Company |
Business Dynamics and Challenges
Business Activities:
Igrovest Group (Pty) Ltd is an emerging agricultural development company focusing on castor oil beans value chain. The company strategic pillars include seed breeding, farming, processing, biotechnology, and training focusing on castor oil seeds to produce 100% pure organic castor oil and other castor oil biproducts. The business is operated in Lower Majeakgoro Village under the tribal jurisdiction of the Ba-Ga-Mothibi Tribal Authority. The area falls under Greater Taung Local Municipality, and well known as Motlhabeng farm. The principal founder of the company is Mr. Lesedi Moseki who has accumulative decade of business experiences in agriculture, agro-processing, and training. The company was formally incorporated with the Companies and Intellectual Properties Commission (CIPC) on 17th of January 2019 as a private company with the registration number 2019/024170/07.
Challenges/Needs:
Igrovest Group (Pty) Ltd does not have modern technology in their business, which negatively impacts on their capability to increase production. According to the owner attempts have been made to modernize production, however, lack of machinery has led to mediocre production outputs. The company approached Seda to benefit from overall business development services and support. Their goal is to increase production and ensure quality outputs are achieved through QMS and product certification. They want to be assisted with financial management systems, barcoding, and marketing of the product.
Intervention Insights and Results
Intervention Details:
The company was assisted with marketing and promotional material and was invited to partake in the pop-up market in Taung. They are currently being assisted with financial management systems implementation, product testing and certification and, exhibitions.
Outcome Details:
The interventions have assisted growth in the business. The company was able to attend the Saitex exhibition funded by the district municipality to the tune of R15000. They also attended the North West Mega Expo using the marketing and promotional material provided. They won the second price in the innovation hub under the bioscience category. The company received support from the district municipality, with equipment and installation of the irrigation system amounting to R150000. As at the time of conducting this assessment, The company’s turnover has increased from R145 000 to R276 800. The business managed to hire 5 additional workers, increasing employees to 15.
Client Feedback
Client Comments:
Thanks for helping our business to reach the market and gain exposure in the district.
