DRAKENSTEIN is one of the 13 pilot municipalities of the National Treasury to prepare the roll out of the new Municipal Finance Act in the whole country.

Part of the preparation is capacity building in the municipality in order to be able to deal with implementation issues of the act.

Eleven people are participating in the programme launched for the Department of Finance.

They get the opportunity to get to know the most relevant issues within the financial work field within two years.

The Head of Finance takes responsibility for the programme and an international advisor from the Netherlands, Daan van Cadsand, is supporting it.

THE historic farm Boschendal, now under new ownership, will remain a wine farm and there will be no golf course on the property following the sale by Anglo American Farms Limited (Amfarms) to a consortium of investors for a total of R323 million. 

In the first phase of the sale, the consortium led by Clive Venning has acquired 915 hectares, which includes historic homesteads, restaurants, the vineyards and winery. All employees will retained.

In the second phase, the consortium will, within a two to three year time frame and subject to planning approval, take ownership of related farms adjacent to Boschendal, such as Champagne and Bethlehem. These prime properties cover approximately 1327 hectares.

In the process, there will be considerable empowerment opportunities for residents of the Dwars River Valley.

Said new CEO Clive Venning: "The plan for the development of Boschendal, which has been supported by Anglo American, is not aggressive and is based on an 'as is' philosophy.

"What will make 'Boschendal The Estate' attractive to investors is the fact that we intend to retain not only the footprint, but also the historical and agricultural integrity of the estate.

"Buying into 'Boschendal The Estate' will be buying a slice of history and as such we would like South African investors to be the primary participants."

Boschendal will be developed into South Africa's premier residential estate consisting of a 20 gentlemen's estates (a low impact, eco-friendly, high value residential estate west of the Helshoogte Road), a retirement village (on the current site of the Thembaletu hostels) and a boutique hotel east of the manorhouse.

The first of the twenty estates of about 45 hectares each has been sold to golfer Gary Player at a price in excess of R20 million. The new homes will be erected on the footprint of existing farmyard buildings, with Rhodes Cottage serving as clubhouse.

Workers currently living on the farm will soon move to Lanquedoc village, where 400 new houses have been erected for them, free of charge.

Michael Spicer, chairman of Amfarms said, "We are delighted after a rigorous two year process to have concluded the sale of Boschendal in such a satisfactory manner. 

"The consortium meets our criteria and we believe they are well positioned to retain the cultural and agricultural integrity of the Estate.

Prior to the commencement of the rationalisation process, the Boschendal Estate originally consisted of some 3 300 hectares. Between 1999 and 2001, 1060 hectares of surplus land was sold, including 480 hectares to other developers who are co-operating with the consortium in terms of an overall planning approach.

A golf estate on one of these adjoining properties east of Boschendal is being considered.

The consortium of investors, led by Clive Venning and Charles Boswell, is made up of Citation Holdings SA, a Luxembourg-registered company, which will acquire 70% of Boschendal, and Kovacs Investments 608, a broad based empowerment group, chaired by Chris Nissen, which will acquire the remaining 30%.

Said Venning: ""We intend to place the historic Boschendal Manor house and werf in Trust, thereby ensuring its preservation."

Boschendal the wine brand will be elevated through the release of premium label wines, a focused export drive and improved distribution. Other plans include gradually increasing the percentage of red wine sales.

Zimbabwe born Venning's previous highly successful developments include Pezula Private Estate, Sparrebosch Golf Course and Hotel in Knysna and Sun River Club in Zimbabwe.

Other shareholders are British born financier Charles Boswell, Frank J Crothers and Craig Symonette of the Bahamas and Juan A Bacardi, beverage retailer and distributor.

Chris Nissen, chairman of Kovacs Investments (which has received "arms length" investment from JCI), said: "We see our involvement in this transaction as a significant milestone in the empowerment of the wine industry and key to the upliftment of the community of the Dwars River valley."

"Equity participation will be the framework to ensure involvement and transfer of skills to the residents of the valley in the development process."

A number of local businessmen from the Pniel/Kylemore community also have a stake in Kovacs and considerable investment in the business centre of the community is planned to promote social empowerment and tourism.

A nature reserve is planned on the highest mountain slopes of the estate with controlled access for hikers. Local custodians will assist with the clearing of alien vegetation and construction of walkways.

Some industrial buildings near the railway line will be redeveloped for business and retail purposes.