Staff Reporter
Zimbabwe’s sugar industry is on the verge of a major revival as new investors step in to stabilise operations and boost productivity, following years of financial challenges.
Vision Group, a consortium made up of investors from Zimbabwe and Pakistan, has officially taken over Tongaat Hulett Zimbabwe through a debt-to-asset swap deal, bringing fresh hope to one of the country’s key agro-industrial sectors.
Tongaat Hulett Zimbabwe, which operates the Triangle and Hippo Valley sugar mills, with a combined processing capacity of 3.5 million tonnes of sugarcane annually, had been under business rescue since September 2022 due to severe financial constraints.
Speaking at a stakeholder engagement luncheon, at Hippo Valley Country Club recently, Vision Group Director, Rutenhuro Moyo, outlined the group’s commitment to rejuvenating the sector.
“Our priority is to stabilise operations. The company has faced significant disruption, which delayed key capital programmes. We believe there is a real opportunity to grow yields, increase the area under cane, and introduce innovations like producing by-products, such as carbon dioxide,” said Moyo.
The Vision Group aims to transform the company into a competitive African agri-processing giant.
Chief Executive Officer of Vision Sugar, Gavin Dalgeish, stressed the long-term commitment of the group.
“We are an African-owned business with a strong track record in the region. Transparency, stakeholder engagement, and generating sustainable returns for investors are at the heart of our approach,” he said.
Tongaat Hulett Zimbabwe’s CEO, Tendai Masawi, expressed optimism about the change in ownership and its impact on operational efficiency.
“With the new investors on board, we are no longer hamstrung by business rescue proceedings or limited by strained bank negotiations. This opens the door to better credit terms, stronger supplier relationships, and improved cash flow,” Masawi said.
Sugarcane outgrowers, who are critical partners in the value chain, have also welcomed the development but are calling for greater transparency and accountability in business practices.
“We currently average 90 tonnes of cane per hectare, but the potential is at least 115 tonnes. With efficient value chain management from field to refinery, we can unlock massive value. This sector is vital to Masvingo’s economy, and we’re hopeful that, with new management, the industry can thrive again,” said one grower.
Vision Group’s acquisition not only covers Zimbabwe’s sugar operations but also includes assets in South Africa and Mozambique, signalling a bold regional expansion strategy.
If successful, this transition could mark the beginning of a new, sweeter chapter for Zimbabwe’s sugar industry.
