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Bitter battle for sugar consortium demands answers from IDC over Tongaat Hulett sale

24 August 2023

Bitter battle for sugar consortium demands answers from IDC over Tongaat Hulett sale

 

Tongaat’s business rescue practitioners today announced that Kagera Sugar Ltd of Tanzania has been selected as the preferred strategic equity partner. Continuing to operate Tongaat Sugar Assets as a combined multi-country group will ensure continuity for the operations in Mozambique, Zim and Botswana. It will also provide the SA business with access to technical capability to improve and to retain jobs in KZN and to protect the livelihoods of several stakeholders across Tongaat’s value chain, including that of the group’s many small-scale growers. But not everyone is happy – the consortium that lost out on the sale is demanding answers from the IDC.

 

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