GrowerCo said its proposal was designed around the long-term sustainability of Tongaat Hulett and included both small- and large-scale sugarcane growers as equity partners.
A new grower-led rescue initiative has emerged to try save embattled sugar producer Tongaat Hulett from liquidation, with industry stakeholders warning that the collapse of the company could devastate KwaZulu-Natal’s rural economy and thousands of livelihoods linked to the sugar industry.
With Tongaat Hulett’s liquidation hearing less than a month away, a newly established entity called GrowerCo on Thursday said it was seeking to secure funding to keep the company’s mills and refinery operational while positioning growers themselves at the centre of ownership and decision-making.
The initiative has the backing of both SA Canegrowers and the South African Farmers’ Development Association (SAFDA), and is being presented as an alternative to private-equity-led restructuring proposals.
GrowerCo said its proposal was designed around the long-term sustainability of Tongaat Hulett and included both small- and large-scale sugarcane growers as equity partners.
