ANKOLE CATTLE – THE BUSINESS CASE
By Anton De Swardt
Sally and I started with intensive breeding of sable antelope, nyala and buffalo on our game farm in the Bela Bela area in Limpopo in 2007. Although we always loved the game breeding and had lots of fun, it never provided a solid return on investment since we never considered it, nor farmed it as a commercial agricultural operation. With a sharp decline in game prices, we decided that we had to adapt to ensure that we would still have a proper revenue stream on the farm and for us, going into Ankole breeding was the obvious and logical next step.
We started our Ankole herd with the purchase of four females and two implanted recipients in 2020. We knew, from the game industry, that genetics is almost everything. Our first goal was really obtaining the best genetics we could afford and hence buying recipients certified pregnant with embryos from the top bull, Tshinakaho, and a top cow, Lindi, was the most affordable way of obtaining such genetics. This proved to be one of the best decisions we could have made.
WHY ANKOLE?
Our farm is located in the Bela Bela area with extremely harsh bushveld conditions that present many risks for cattle. We have all the known, and some unknown tickborne diseases including hart water, red water, anaplasmosis and others. Ordinary cattle are challenged with pink eye caused by moraxella (infectious bovine keratoconjunctivitis.) We have very hot summers, very cold winters and often have long dry spells.
Ankole are true African cattle born and bred in Africa with all it’s natural challenges. Ankole cattle are not only able to survive but can thrive in our harsh veld conditions with minimal human intervention and treatment. As such, they make an excellent choice for extensive breeding where a bull and some females are used in ordinary veld conditions.
BREED CATTLE
People generally classify cattle as either beef or dairy and the question is often posed – where do Ankole fit in? This is generally a European approach. It is important to understand that, in Africa, cattle are currency. For indigenous African people cattle are their gold standard and, as such, fulfil a very different market function than simply beef or dairy.
Ankole cattle, with their huge, impressive horns in multiple different shapes and coat colours ranging between dark liver brown to spectacular mottled colours, evoke a passionate response and reaction. The value of Ankole is significantly influenced by their scarcity and desirability. Stud breeding of Ankole in South Africa is in its infancy and it makes for very interesting reading when comparing the numbers with those of other stud cattle breeds.
According to Stats South Africa there are approximately 13,9 million cattle in South Africa with approximately 60% being held by commercial farmers and small-holders and 40% in rural communal communities.
The following comparisons of rounded numbers can be considered:
| Breed | Registered Stud Breeders | Registered Stud Cattle | Commercial Cattle |
| Boran | 280 | 42 000+ | |
| Nguni | 145 | 19 000+ | 40 000+ |
| Angus | 140 | 21 000+ | |
| Brahman | 370 | 46 000 | |
| Bonsmara | 60 000 | 4 000 000 |
In sharp contrast, the current statistics for Ankole cattle are as follows:
- Registered Stud Breeders: 62
- Registered Stud Cattle: 1792 of which 1198 are Fullblood registered
MARKET VALUE OF ANKOLE
A significant part of the business case for Ankole is the market value of stud animals. The data provided below shows that Ankole prices fair very well when considered against some of the other breeds in South Africa. They also show that the prices are relatively constant, year on year.
| Description | Average Ankole Prices March 2023 | Average Ankole Prices March 2024 | Average Boran Prices March 2023 |
| Cows | R316,667 | R320,000 | R59,667 |
| Bulls | R151,250 | R131,000 | R63,333 |
| Heifers | R330,000 | R300,000 | R172,500 |
| Cows with calves | R415,000 | R164,000 | |
| Pregnant cow with calf | R1,800,000 | ||
| Frozen embryos | R52,000 | ||
| Pregnant recipients | R418,750 | ||
| Semen per straw | R30,800 |
The March 2024 pregnant recipients obtained record prices because it included implanted recipients sold with new genetics from Uganda imported through Kenya by Embryo Plus. These genetics are completely unrelated to the existing genetics in South Africa.
The Ankole stud bull prices compare well with other breeds in the country. This is clear from the prices achieved since 2020. .
| Breed | Price | Date | Seller |
| Ankole | R3,000,000 | April 2021 | Twin City |
| Ankole | R1,650,000 | June 2022 | Benella Ankole |
| Ankole | R1,000,000 | June 2022 | W2 Ankole |
| Boran | R2,300,000 | August 2022 | Hurwitz Farming |
| Boran | R1,700,000 | July 2020 | Meybor Boran Stud |
| Boran | R1,500,000 | August 2022 | Hurwitz Farming |
| Boran | R1,400,000 | August 2022 | Hurwitz Farming |
| Bonsmara | R2,100,000 | June 2022 | Poggepoel Molopo Bonsmaras |
| Beefmaster | R1,100,000 | June 2021 | Bos Blanco Beefmaster Stud |
| Limousin | R1,200,000 | May 2022 | Devlan Limousins |
| Bonsmara | R4,400,000 | July 2023 | Up George Bonsmaras |
| Bonsmara | R2,000,000 | July 2023 | Up George Bonsmaras |
The cows do just as well as is illustrated with the prices achieved between 2021 to date.
| Description | Price | Date | Seller |
| Ankole heifer | R2,100,000 | March 2022 | Ntaba Nyoni |
| Ankole cow with heifer calf | R2,000,000 | September 2021 | Ntaba Nyoni |
| Ankole cow with heifer calf | R1,800,000 | March 2024 | Ntaba Nyoni |
| Ankole cow | R1,500,000 | September 2021 | Ntaba Nyoni |
| Ankole cow | R1,265,000 | April 2023 | Benella Ankole |
| Ankole heifer | R950,000 | June 2022 | Embryo Plus |
| Ankole cow | R850,000 | September 2022 | Ntaba Nyoni |
| Boran cow with calf | R1,100,000 | August 2022 | Hurwitz Farming |
| Boran pregnant heifer | R650,000 | August 2022 | Hurwitz Farming |
INVESTMENT CONSIDERATIONS
Some things to consider when looking considering investing in Ankole are:
- It has been proven over decades and across all breeds that top quality animals will get excellent prices regardless of the breed.
- The fact that the top genetic Ankole cattle achieve excellent prices is aligned with the general market trend across all cattle breeds.
- Other than the Bonsmara bull record price of R4.4 million achieved in 2023, Ankole holds the SA record prices across all categories of pregnant cows with calves, cows, heifers, pregnant recipients and semen.
- Considering the history of prices in the cattle industry, it is obvious that quality matters and that breeding up is essential.
- The market for Ankole cattle in South Africa and in the SADC region is large. This was demonstrated by the diversity in the buyers at the last Ntaba Nyoni Auction of 2023. Breeders from Zambia, Zimbabwe and Mozambique bought Ankole at this auction. 60% of all lots were purchased by Black buyers.
- Ankole stud breeding in South Africa is in its infancy. Investing now means getting into a great market with huge growth potential early.
- Ankole have value beyond their meat and milk production – they are aptly regarded as the African gold standard! They are regarded as a multi-purpose breed.
- They are very well suited for farming in Africa. They are hardy, disease resistant and do well on marginal agricultural land. They will thrive in the same conditions as game. This makes them a perfect partner for game farmers.
- Ankole can be farmed either in extensive farm land with minimal human intervention or treatment. They are equally suitable for intensive breeding with the use of artificial insemination and embryo transplants.
- There is substantial growth and interest in the use of Ankole in eco-tourism. They are majestic creatures that always make a positive impression.
- As Ankole numbers increase, the prices will decrease, but top quality animals will always remain a strong investment with excellent returns.
When all factors are weighed up, investing in Ankole made sense for us because they do well in our veld, require limited management, there is excellent market growth potential and they provide an excellent return. In addition to this, they are magnificent creatures and working with them is a privilege and pleasure. We are confident that our investment will make excellent returns.