"Turning farmworkers into shareholders ... " Jacques van der Heyde

In 2007, Diemersfontein launched its empowerment company, Thokozani, with 35 staff shareholders, including its white managers so as not to artificially split the workforce. Each worker, with at least one year's service and a willingness to participate, was given R10 000 to R20 000 worth of shares in Thokozani depending on their seniority. It is conditional on them staying and working on the farm for five years. In addition, they have to devote 2% of their salary each month to buying more shares in Thokozani. The 2% monthly contribution, Denise (Director Business Development Thokozani) explains, is so that the workers recognise their side of the bargain which is to make a contribution according to their means.




Staff members' participation will be by direct shareholding in Thokozani Staff Holdings (Pty) Ltd. Models have been developed that simultaneously allow shareholders of this staff holding company to obtain conventional rewards from profit sharing during their employment years. Provision is also made for recognition of capital gain for their years of service. Board representation by Denise Stubbs and one other.

Represented on the Board by David Sonnenberg – Director of Diemersfontein. The owner of Diemersfontein is thus an integral but minority shareholder in the business.

Represented on the Board by Jacques van der Heyde & Consortium.