New plan to save Tongaat Hulett
Tycoon-backed Vision Group is in talks with South Africa’s Industrial Development Corporation to take an equity stake in sugar refiner Tongaat Hulett in exchange for additional funding, Vision Group shareholder and consortium member Robert Gumede said in an interview.
US$12 million lifeline for Tongaat Hulett
On 16 April 2026 Tongaat’s Post-Commencement Funding facility was extended to 30 June 2026 and increased from R2.3 billion to R2.5 billion – R200 million (US$12.16 million).
Who will save sugar industry giant Tongaat-Hulett?
The business rescue of Tongaat-Hulett Limited has arguably been just such a charade, implicating both the Business Rescue Practitioners and Vision Investments 155, the consortium that, despite the failure of its business rescue plan, still wants to ingest THL.