JOHANNESBURG, South Africa – South Africa’s trade ministry said on Friday it would oppose the liquidation of sugar producer Tongaat Hulett, warning of severe consequences for jobs, farmers, and the country’s sugar industry.
The 134-year-old Tongaat Hulett is one of South Africa’s biggest sugar millers, with capacity to mill 2 million metric tons. It employs thousands across its operations in South Africa, Zimbabwe, Mozambique and Eswatini.
The ministry does not have the power to stop the liquidation, but, along with other interested parties, can take part in the hearings and make the case against it.
Vision Group, the company’s lead secured creditor, said last week a process to rescue Tongaat Hulett, which began in 2022…