Tongaat Hulett’s creditors finally accept rescue plan
Tens of thousands of people reliant on the sugar industry for their living can rest easier after Tongaat’s business rescue plan was finally accepted by a majority of creditors yesterday. 98.51% of Tongaat’s creditors have voted in favour of adopting the Vision Parties rescue plan, which will see it being bought by a consortium of companies led by Robert Gumede, the founder of the Gijima Group Vision Parties comprises SA’s Terris Sugar, Guma (from Mauritius), Remoggo (from Zimbabwe) and Almoiz Industries, a sugar producer based in Lahore, Pakistan.