Mail & Guardian
Mail & Guardian
Industrial Development CorporationIn the news
Call for accountability: Concerns about the criteria used and process followed in awarding the deal to Tinley Leisure Women Investments continue to linger. Photo: Supplied
BUSINESS AND FINANCE

Trust questions IDC equity to ‘outsiders’

The R2.1 billion Club Med deal faces scrutiny as Chief Jiba Magwaza of the Magwaza Royal Trusts in KwaZulu-Natal criticizes the involvement of Tinley Leisure Women Investments…

  • Brian Sokutu
9 min read
Roadblock: Cheap sugar imports, mainly from India, Guatemala, Brazil and Thailand, are killing the struggling industry. Photo: Delwyn Versamy
SUGAR INDUSTRY

R1.5bn lost to cheap sugar imports

South Africa's sugar industry has lost an estimated R1.5 billion due to a surge in cheap sugar imports, primarily from India, Guatemala, Brazil, and Thailand. Despite a recent…

  • Sandile Motha
6 min read
High stakes: South African businessman Robert Gumede
BUSINESS RESCUE

The African duo entrepreneurs who saved Tongaat Hulett

South African billionaire Robert Gumede and Zimbabwean deal-maker Rute Moyo have joined forces through their Vision Sugar Group to rescue the beleaguered sugar giant Tongaat…

  • Sandile Motha
7 min read
Ghost towns: The mills in Tongaat, Maidstone and Felixton have fallen silent. Photo: Delwyn Verasamy
SUGAR INDUSTRY

Black capital saves sugar giant

A crucial agreement between the Robert Gumede-led Vision Group and the Industrial Development Corporation (IDC) has successfully halted the liquidation of Tongaat Hulett Limited…

  • Editorial
2 min read
B BBEE

Broad-based BEE compliance fatigue and unclear outcomes dominate transformation debate

Business leaders at the Nedbank Top Empowerment Conference have highlighted compliance fatigue and unclear outcomes under South Africa's broad-based black economic empowerment…

  • Nkateko Joseph Mabasa
4 min read
The collapse of THL would have spelt disaster for the KZN economy and many other rural towns who rely on the sugar sector for survival.
SUGAR INDUSTRY

Business rescue practitioners and key stakeholders strike deal to save Tongaat Hulett

KwaZulu-Natal sugar giant Tongaat Hulett Ltd (THL) has been saved from liquidation after a binding agreement was reached between Business Rescue Practitioners, the Industrial…

  • Sandile Motha
3 min read