A grower-led consortium is racing to save Tongaat Hulett, one of South Africas oldest agricultural companies, from liquidation proceedings scheduled for next month, reports Cape town Etc .
BusinessTech reports, the company was founded in 1892 and was KwaZulu-Natals sugar giant supporting between 35 000 and 40 000 direct jobs and underpins the livelihoods of more than 17 000 of the countrys 28 000 sugarcane growers.
South Africa produces roughly 2.2 million tonnes of sugar annually , making the sugar industry one of the countrys most significant agricultural sectors, with KwaZulu-Natal accounting for approximately 77 of total industry revenue.
