Euphoria Golf Estate and Hydro based in Limpopo has been purchased out of liquidation by Sampada Private Equity. Euphoria becomes the first and currently only black-owned golf estate in South Africa.
A further R20 million will immediately be invested into the Estate for general upgrades and maintenance. The main operations and estate will thus be closed for three months from June 1 until the end of August. The refurbishments will take place on the clubhouse, the lodge rooms and all restaurants.
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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 September 1.
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Bafedile Mafologele, CEO of Sampada Private Equity based in Johannesburg, says: “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.”
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 and Kensington Golf Club as well as Euphoria Golf Estate and Hydro, will return as GM of Euphoria on the May 1. Leach will work together with Kea Makoea who is portfolio manager at Sampada and recently elected as CEO of Euphoria Golf Estate and Hydro.
