The mother-of-one had leap from a plane with a parachute which opened automatically but suffered problems within seconds of exiting the aircraft.
Joos Vos, the skydive manager, said “It should have all run smoothly but she exited the plane in an unusual and unstable position.
“This caused the parachute leads to become entangled. Although the parachute did partially inflate, it was rotating and becoming more entangled as she dropped.
“She had been trained to use the emergency procedure but unfortunately she did not and instead fell towards the ground.
“I think she had done one or two parachute jumps before but was certainly not experienced.”
Paramedics took the woman to a hospital in the city before transferring her for further treatment at the Livingstone Hospital in Port Elizabeth, where she today remained in intensive care.
Doctors at the hospital said Lareece was in a stable condition.
The accident is the latest in a string of incidents involving parachuters in South Africa.
Last year professional skydiver Glenn Coleman, 34, died in a freak accident after attempting to perform a solo skydive.
Investigators said they believed he had misjudged the distance to the ground before slamming into the soil.