SAMANTHA ENSLIN-PAYNE: High-sugar diet is catching up on health of KZN economy
The company is likely to emerge as a shadow of its former self
Tongaat Hulett has been around in various guises since the late 1800s, growing into a company that came to dominate several aspects of the KwaZulu-Natal economy. Not only does it employ about 40,000 people during the peak sugar milling season (although not all in SA), it also provides economic opportunities in the province. Its dominance in a regional economy in which the expanded unemployment rate is 42.4% is perhaps part of the reason former key executives could conduct the company's affairs with what now seems to be grossly inadequate scrutiny and care.
Towns on the KwaZulu-Natal north coast, where land owned by Tongaat was sold to develop Mount Edgecombe, Umhlanga Ridge and Zimbali, as well as Tongaat - site of the company's head office - are small. And small-town mentality extends to Durban, where a one-time JSE heavyweight seems to have wielded outsized influence. Tongaat's relationships with the city - whose coffers have been boosted by the conversion of agricultural la...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.