A consortium of sugar cane growers has launched a dramatic last-minute bid to rescue Tongaat Hulett from the brink of liquidation, warning that the company’s collapse would trigger an economic catastrophe across rural KwaZulu-Natal. Operating under the name GrowerCo, the group is racing to secure emergency funding before a critical liquidation hearing scheduled for June, aiming to keep Tongaat’s mills and refinery operational and protect an estimated 40,000 direct jobs that depend on the struggling agri-processing giant.
Tongaat Hulett has been mired in business rescue proceedings since 2022, when a series of devastating accounting scandals and years of financial mismanagement pushed the once-proud sugar producer to the edge. Since then, the Industrial Development Corporation (IDC) has injected approximately R2.5 billion in a desperate attempt to keep the company’s mills turning and its supply chains intact. However, with the rescue process dragging on and competing proposals emerging, GrowerCo believes only a grower-led solution can salvage the industry.
“We are not prepared to stand by while thousands of families lose their only source of income,” said a spokesperson for the consortium, representing hundreds of small-scale and commercial farmers. “Liquidation would not only erase Tongaat Hulett—it would devastate entire communities, from farmworkers to truck drivers to shop owners who rely on sugar.”
The consortium argues that a grower-controlled rescue would prioritize long-term sustainability over asset stripping. Meanwhile, rival bidders and creditors continue to circle. The June court hearing is now seen as the final deadline. If GrowerCo fails to secure funding, KZN’s sugar belt could face its darkest season yet.
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