adminPadenga Holdings’ footprints
Padenga Holdings Limited, a former division of renowned and vast iconic brands, Innscor Africa Limited, was listed on the Zimbabwe Stock Exchange (ZSE) in 2010.
Crocodile farming is often exclusive as the semi-aquatic terrifying reptiles are anatomically and physiologically distinct from other animals, where production experiences have been gained.
Padenga’s two species include the Nile crocodile and the Alligator.
Inaugural to the lucrative aqua-cultural business was the establishment of Kariba Crocodile Farm (KCF) as a family venture in 1965.
Global demand for skins then could no longer be met satisfactorily by unregulated wild harvesting which had started in the early 1940s.
The pioneering commercial crocodile venture in Zimbabwe was only complemented by Ume Crocodile farm (UCF) in 1973.
The later was an extension on a private safari hunting operation located on the Ume River, 65 kilometres from KCF.
Both crocodile farms were testimony to the Zimbabwean ideology that giving economic value to endangered species helps their conversation.
No wonder through 1982 the slogan was “Crocodile utilisation is conversation.”
KCF and UCF were acquired by Astra Corporation to become the integral business of Astra Crocodile Ranching and Shearwater Adventures which later was acquired by Innscor Africa in 1993.
In 1998 the two farms were formally incorporated into the Innscor Group as the Niloticus Division. Business blossomed under Innscor Africa’s stewardship and in 2005 the new Nyanyana Crocodile Farm (NCF) was constructed adjacent to Kariba Crocodile Farm.
The new farm thrived through the knowledge and expertise accrued from KCF and UCF operations. Nyanyana’s construction was informed by the desire to raise production capacity.
In 2010 Innscor Africa unbundled the crocodile ranching operation and listed it separately on ZSE as Padenga Holdings Limited.
As expansion potential exited the borders, Padenga acquired 50 percent shareholding in Tallow Creek Ranch (TCR) in Texas, USA in 2012.
Nile alligators are currently bred at Lone Star Alligator Farm in Texas following the acquisition. Inheriting was a tremendous boost in production capacity by TCR from the traditional circa 3 000 skins per annum to about 60 000 skins per year by 2017.
Padenga’s expansion opportunity has become further hinged on TCR which has become the main subsidiary.
The three local farms’ quasi-identical sizes, structures and stock numbers makes possible direct comparison on both operational and financial performance.
Statistics show that Padenga Holdings is the leading supplier of crocodile skins and meat in Zimbabwe accounting for 85 percent of the global supply of Nile crocodile skins for magnificent luxury fashion brands.
In 2018 the company moved towards renewable energy for sustenance and initiated a three year project to install a 1.2 Megawatts solar array at Nyanyana Crocodile Farm. The grid tied solar systems were envisaged to feed into the national ZETDC grid in 2019. This actually cushioned Padenga’s annual electricity costs.
The company is currently considering a proposed transaction to diversify its business through investment into an alternative export-orientated business.
Bongani Ndlovu