Tongaat Hulett, once the pride of the sugar belt and a 134-year-old industrial icon, has collapsed under the weight of mismanagement, scandal and shifting global markets
The government says the ailing company is a crucial player in South Africa’s sugar value chain and its demise would have ‘far-reaching and devastating consequences’ for the sector
Vision, the lead secured lender to the troubled sugar giant, said it was committed to saving the company and jobs despite the business rescue process failing
Small-scale and black-owned sugarcane farmers along with land reform beneficiaries have received R238.9 million in funding for transformation, but transparency has now become an…
Tongaat Hulett can only exit business rescue once the approved plan is largely implemented or the company is no longer financially distressed
Vision Partners say they will “engage and settle” with the SA Sugar Association
ANC funder Robert Gumede’s bid for the sugar giant may be on the rocks
The South African Sugar Association will make payments for the 2023-24 season after sugar mills in northern KwaZulu-Natal defaulted on payments
The farmers hope that new management at Tongaat’s sugar operations will bring stability to the industry
The acquiring company will also buy Tongaat’s investments in Zimbabwe, Mozambique and Botswana
Eight companies are interested in bidding for either a full purchase of the company or parts of it
The sugar industry says new regulations aimed at combating health problems will hurt profits and jobs, but a civil society coalition strongly disagrees
The industry must be protected from cheap imports and mills must continue operating because nonpayments affects farmers and industry partners
Thousands of livelihoods in the sugar supply chain are expected to be impacted by the closure
Next season is also under threat if sugar giant’s mills close
Finance Minister Enoch Godongwana has announced a postponement of the sugar tax for 12 months
