{"id":81186,"date":"2023-07-28T22:00:08","date_gmt":"2023-07-28T20:00:08","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets"},"modified":"2023-07-29T01:28:27","modified_gmt":"2023-07-28T23:28:27","slug":"tanzania-based-firm-acquires-tongaat-hullets-sugar-assets","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets","title":{"rendered":"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>By Alois Vinga<\/b><\/p>\n

A Tanzania based firm has emerged as the preferred equity partner to purchase Tongaat Hullet\u2019s sugar assets out of a list of eight possible suitors in the transaction.<\/p>\n

Tongaat is a cane-growing, sugar milling and refining concern with operations throughout the Southern African region including Zimbabwe.<\/p>\n

Market data shows that the company has four mills in South Africa with an installed capacity to produce more than 1 million tons of sugar per annum.<\/p>\n

The embattled Tongaat which is currently suspended JSE-listed group opted for the move as part of a business rescue strategy amid reports of owing nine banks a whooping R6,5 billion directly while the aggregate debt owed by farmers, haulers and other related companies in Tongaat\u2019s ecosphere is estimated to be about R20 billion as at November 2022.<\/p>\n

The latest strategy forged in October 2022 confirmed recently the proposed transaction with Tanzania\u2019s Kagera Sugar will comprise the acquisition of its complete sugar division in South Africa as well as its sugar businesses in Zimbabwe, Mozambique, and Botswana.<\/p>\n

However, the total amount involved in the transaction and plans to maintain the JSE listing going forward has not yet been revealed.<\/p>\n

Kagera Sugar Managing Director, Nassor Seif told the media in Tanzania over the weekend that the latest acquisition was in line with the group\u2019s strategy to become the leading sugar producer across the African continent.<\/p>\n

\u201cWe will extend the core values that have resulted in the success of our group companies to the new Southern African operations to benefit employees, growers, and ultimately the economy of the region.<\/p>\n

\u201cThe group is committed to investing significantly in the operations to modernise the plants and expand them to increase production and efficiencies,\u201d said Seif.<\/p>\n

The Tanzania Sugar Board also hailed the country\u2019s firm for spreading its wings into Southern Africa by grabbing such lucrative opportunities in a move described as \u2018commendable\u2019.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. By Alois Vinga A Tanzania based firm has emerged as the preferred equity partner to purchase Tongaat Hullet\u2019s sugar assets out of a list of eight possible suitors in the transaction. Tongaat is a cane-growing, sugar milling and refining concern with operations throughout the Southern African region including Zimbabwe. Market data shows […]<\/p>\n","protected":false},"author":84,"featured_media":81185,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,19],"class_list":["post-81186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nTanzania based firm acquires Tongaat Hullet\u2019s Sugar assets - zimbabwe<\/title>\n<meta name=\"description\" content=\"By Alois Vinga A Tanzania based firm has emerged as the preferred equity partner to purchase Tongaat Hullet\u2019s su ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets\" \/>\n<meta property=\"og:description\" content=\"By Alois Vinga A Tanzania based firm has emerged as the preferred equity partner to purchase Tongaat Hullet\u2019s su ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-28T20:00:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-28T23:28:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"436\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets\",\"datePublished\":\"2023-07-28T20:00:08+00:00\",\"dateModified\":\"2023-07-28T23:28:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets\"},\"wordCount\":336,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets\",\"name\":\"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets - zimbabwe\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg\",\"datePublished\":\"2023-07-28T20:00:08+00:00\",\"dateModified\":\"2023-07-28T23:28:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"By Alois Vinga A Tanzania based firm has emerged as the preferred equity partner to purchase Tongaat Hullet\u2019s su ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg\",\"width\":720,\"height\":436,\"caption\":\"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/zimbabwe\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/\",\"name\":\"zimbabwe\",\"description\":\"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets - zimbabwe","description":"By Alois Vinga A Tanzania based firm has emerged as the preferred equity partner to purchase Tongaat Hullet\u2019s su ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets","og_locale":"en_US","og_type":"article","og_title":"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets","og_description":"By Alois Vinga A Tanzania based firm has emerged as the preferred equity partner to purchase Tongaat Hullet\u2019s su ...","og_url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets","og_site_name":"zimbabwe","article_published_time":"2023-07-28T20:00:08+00:00","article_modified_time":"2023-07-28T23:28:27+00:00","og_image":[{"width":720,"height":436,"url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets","datePublished":"2023-07-28T20:00:08+00:00","dateModified":"2023-07-28T23:28:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets"},"wordCount":336,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg","keywords":["Africa Press","Africa Press-Zimbabwe","Zimbabwe"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets","url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets","name":"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets - zimbabwe","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg","datePublished":"2023-07-28T20:00:08+00:00","dateModified":"2023-07-28T23:28:27+00:00","author":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"By Alois Vinga A Tanzania based firm has emerged as the preferred equity partner to purchase Tongaat Hullet\u2019s su ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#primaryimage","url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg","contentUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1690570549.456715.jpg","width":720,"height":436,"caption":"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tanzania-based-firm-acquires-tongaat-hullets-sugar-assets#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/zimbabwe\/"},{"@type":"ListItem","position":2,"name":"Tanzania based firm acquires Tongaat Hullet\u2019s Sugar assets"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website","url":"https:\/\/www.africa-press.net\/zimbabwe\/","name":"zimbabwe","description":"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/81186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/comments?post=81186"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/81186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media\/81185"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media?parent=81186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/categories?post=81186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/tags?post=81186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}