Port Elizabeth-based empowerment company African Pioneer Limited (APL) wants to be the first black-owned company to fully own and operate gaming interests through various developments planned for Queenstown and Mthatha.

Chief executive and founder Stephen Dondolo said after the conclusion this week of a funding transaction worth R35,4 million with Standard Bank and Sanlam, that the amount was among the largest awarded to a single company in the province.

It would be used to restructure the company's investment portfolio and support its bid for two new casino licences in Mthatha and Queenstown.

It already has interests in the Eastern Cape tourism and gaming industries through its shareholding in The Boardwalk Casino and Entertainment World in Port Elizabeth and the Fish River Sun.

"If we succeed, we will be one of the first fully black-owned owners and operators of casinos in the country. Winning one or both bids will give us a strong base to expand into the tourism, leisure, entertainment and gaming industry in the Eastern Cape and the rest of the country," Dondolo said.

He said APL had identified the Mthatha corridor from East London to Durban, as a strategic area for the growth of tourism and gaming.

He added that, apart from tourism, APL would focus on the fishing and beverage industries.

Part of the funding will be used to acquire Khulile Investments, a side project owned by the Dondolo family trust that has accumulated a four percent stake in Coca-Cola Fortune and 25,1 percent in Afripower, trading as Hytec.

The Coca-Cola shareholding will be increased to five percent soon and will sit next to APL's 13 percent stake in Humansdorp-based dairy producer, Woodlands Dairy.

Woodlands is the country's third largest producer of UHT milk, butter, cheese, cream and custard under the brand name of First Choice.

"This gives us a stronger presence in the food and beverages industry, and provides strong synergies as a platform for further growth," he said.

Dondolo, who was born and raised in Uitenhage, founded the company in 1995 with a group of local businessmen to protect their township business interests.

The company shifted its focus and positioned itself as an empowerment investment company and acquired a 25 percent stake in the now defunct Times Media Limited.

Its first major coup, however, was the acquisition of 40 percent of Western Cape-based Pioneer Fishing in 1998.

At present, Pioneer Fishing catches and processes over 34 million cans of fish a year for the Oceana Group's Lucky Star and Glenryk brands, as well as its own Sea Pride trademark.