Euphoria Golf Estate & Hydro based in Limpopo has been purchased out of liquidation on the 15th April by Sampada Private Equity. Euphoria becomes the first and currently only black-owned golf estate in South Africa. Through its development, Euphoria will play a meaningful role in directly uplifting and changing the lives of people in Mookgophong and the greater Limpopo.
A further R20-million will be immediately invested into the Estate for general upgrades and maintenance. The main operations and estate will thus be closed for three months from the first of June until the end of August. Refurbishments will take place on the clubhouse, the lodge rooms, and all restaurants during this phase. The condition of the golf course will be significantly improved and will remain open for play with a limited halfway house service.
The word Euphoria will remain in the name of the estate although the full name and corporate identity will change. The re-launch is due to take place on the first of September.
Bafedile Mafologele, CEO of Sampada Private Equity based in Johannesburg, was born and raised in Limpopo and is extremely excited about the purchase. ‘We see the huge potential in Euphoria growing and developing into one of the best estates in the country. Through its growth, we are able to directly influence the lives of people, such as securing a bright future for the 30 current staff members at Euphoria. As we develop and succeed, the Estate will create more and more opportunities and employment for the people of Limpopo and contribute towards uplifting our society.
‘Our firm targets investments with strong socio-economic benefits while generating sufficient returns for our investors and Euphoria fits perfectly into our investment model!’
Ian Leach, former CEO of Royal JHB & Kensington Golf Club and Euphoria Golf Estate & Hydro, will return as General Manager at Euphoria on the first of May. Leach will work together with Kea Makoea, who is Portfolio Manager at Sampada and recently elected as CEO of Euphoria Golf Estate & Hydro.
