tongaat hulettlatest news & developments
Ghost towns: The mills in Tongaat, Maidstone and Felixton have fallen silent. Photo: Delwyn Verasamy

How sugar’s rise and collapse shaped KZN

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

  • Eyaaz
7 min read
Intervention: Trade, Industry and Competition Minister Parks Tau, left, and his deputy Zuko Godlimpi believe a sustainable solution can be found to prevent Tongaat Hulett from being liquidated, thus preventing a devastating ripple effect across the economy. Photos: Supplied

Tau leads drive to save Tongaat Hulett

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

  • Eyaaz
7 min read
Bitter impact: Tongaat Hulett’s liquidation will have a devastating ripple effect throughout not just KwaZulu-Natal but the entire country too, filtering right down to the consumer. Photo: Delwyn Verasamy

Tongaat Hulett collapse looms

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

  • Eyaaz
5 min read
(Delwyn Verasamy/M&G)

Not so sweet: Sugar industry stakeholders fight about funding

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 issue

  • Des Erasmus
2 min read

RGS abandons Tongaat bid, claims business rescue is rigged

Bidder says rescue practitioners tried to manipulate process to favour ANC funder Robert Gumede

  • Des Erasmus
3 min read
File photo: Getty Images

RCL withdraws interdict, so Tongaat creditors’ vote goes ahead — for now

Business rescue practitioner Metis has agreed to amend the ‘unlawful’ Vision group rescue plan

  • Des Erasmus
4 min read
Friday’s crucial creditors vote on a business rescue plan for troubled sugar giant Tongaat Hulett is set to be delayed again by court action by the South African Sugar Association (Sasa) to secure the R1.5 billion in unpaid industry levies it is owed. Photo: Delwyn Verasamy

UPDATED: Crucial Tongaat Hulett creditors vote is postponed again as parties head to court over unpaid industry levies

ANC funder Robert Gumede’s bid for the sugar giant may be on the rocks

  • Eyaaz
8 min read
Friday’s crucial creditors vote on a business rescue plan for troubled sugar giant Tongaat Hulett is set to be delayed again by court action by the South African Sugar Association (Sasa) to secure the R1.5 billion in unpaid industry levies it is owed. Photo: Delwyn Verasamy

Sugar industry holds its breath as Tongaat mum on Robert Gumede buyout

The business rescue practitioners are also silent over the company’s debt deal

  • Eyaaz
4 min read
At stake: Tongaat Hulett employs 40  000 people on its farms in KwaZulu-Natal (above) and Mpumalanga and 65 000 more in Botswana, Mozambique and Zimbabwe. (Delwyn Verasamy/M&G)

Robert Gumede’s Tongaat Hulett purchase hinges on R2bn PIC loan

The agreement will give Terris Sugar discounted ownership of Tongaat Hulett’s R8 billion bank debt and control at the upcoming creditors’ vote

  • Eyaaz
5 min read