South African billionaire Robert Gumede saved Tongaat Hulett from collapse but cheap sugar imports are threatening to undo the rescue
Billionaires Africa | 26.06.2026 17:02
Robert Gumede's Vision Group has saved Tongaat Hulett from liquidation, but the 134-year-old sugar producer faces a second crisis that no rescue deal can resolve alone: South Africa's sugar industry has lost an estimated R1.5 billion to a surge of cheap imported sugar, primarily from India, Guatemala, Brazil and Thailand, and the flood is accelerating.
