Labour Minister Mildred Oliphant will this morning meet with the management of Daybreak Farms - a poultry investment project in Delmas, Mpumalanga.
The Minister will 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 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 Department of Labour said.
Daybreak Farms process and distribute more than a million chickens per week, and takes care of every aspect of the manufacturing value chain.
Their abattoirs in Delmas and Sundra slaughter over a million birds per week, while the Kinross Feed Mill generates up to sufficient tonnes of broiler feed per month.
Daybreak’s poultry products are available to the public via numerous retailers and wholesalers. It also supplies poultry products through two of its own factory shops namely, Cash and Carry in Sundra and Farm to Kitchen in Silverton.
The company currently employs 2671 employees of which 688 are permanent and 1983 are temporary workers. - SAnews.gov.za