The Minister of Labour, Mildred Oliphant, will on Thursday, 11 October 2018, conduct a site visit at Daybreak Farms - a poultry investment project in Delmas, Mpumalanga.
The Minister is visiting the project to evaluate the progress and development after the Unemployment Insurance Fund (UIF) – an entity of the Department of Labour invested R483 million into Daybreak Farms through the Public Investment Corporation (PIC) in 2015. The PIC acquired a 100% stake in Daybreak Farms on behalf of UIF and Compensation Fund (CF) who hold 33.33% equity each, and the remainder is held by the Government Employees Pension Fund.
The investment has assisted Daybreak to create and sustain over 3000 jobs. The company processes and distributes more than a million chickens per week and its products are available to the public via numerous retailers and wholesalers.
The UIF’s investment in Daybreak Farms is in line with the Fund’s investment mandate which is underpinned by facilitating job creation and sustaining jobs in the market by ensuring that companies reduce the impact of retrenchments and job losses as a result of adverse economic pressures. The UIF is committed to investing in socially responsible investment opportunities which will assist in creating jobs and infrastructure development.
Details of the Minister’s visit are as follows:
Date: Thursday 11 October 2018
Time: 10:30 – 14:00
Venue: Daybreak Farms, Guluk Plot, R50 Road, Delmas.
For enquiries contact:
Director: Communications and Marketing
Unemployment Insurance Fund
071 491 7236
Acting Departmental Spokesperson
082 808 2168