Harare, (New Ziana) — In a development that could reshape Zimbabwe’s agricultural landscape, Vision Group has received the green light from the Competition and Tariff Commission (CTC) to acquire the troubled sugar giant, Tongaat Hulett’s Zimbabwean operations.

The long-anticipated acquisition is seen as a potential lifeline for the ailing company, which has been teetering under the weight of R8.2 billion in debt.

The transaction covers the full acquisition of Triangle Sugar Corporation, Tongaat Hulett’s flagship operation in Zimbabwe, alongside assets in South Africa and other regional interests.

Crucially, the approval is conditional, with a strong focus on employment-related safeguards designed to protect workers through the transition.

Prosper Ziyadhuma of the CTC confirmed the development and underscored the regulatory body’s insistence on maintaining employment standards throughout the process.

“The acquisition is not just a commercial transaction; it’s a social contract. It must ensure the protection of livelihoods—not just for direct employees but for the broader ecosystem that depends on Tongaat,” Ziyadhuma said.

Yet, while the acquisition offers a new beginning, it comes at a time of deep unease among Tongaat Hulett’s workforce.

The company has already embarked on a series of phased retrenchments across its two primary mills—Hippo Valley and Triangle—where 500 workers at each site are affected.

Tongaat’s operating margins have plummeted by 55% since 2022, while labor costs have surged by 113%, painting a stark picture of the company’s financial challenges.

Although Vision Group has signaled its intent to stabilize operations and preserve jobs, the realities on the ground remain complex.

That ecosystem is substantial. Tongaat Hulett directly employs around 2,600 workers, but its influence extends to more than 25,000 rural jobs through sugarcane farming and downstream industries.

For communities that have grown around these operations, the acquisition is both a source of renewed hope and lingering uncertainty.

Vision Group’s collaboration with business rescue practitioners is expected to play a key role in navigating this transition, ensuring that the needs of employees, cane growers, and suppliers are prioritized. With the 2025 sugarcane harvesting and milling season fast approaching, the timing of the takeover could be crucial.

For now, all eyes are on Vision Group as it assumes control of one of Southern Africa’s most iconic sugar producers.

New Ziana