Tongaat banks on new political climate

Tongaat banks on new political climate
Published: 07 June 2018
SOUTH African sugar producer Tongaat Hulett is planning to ramp up production in Zimbabwe due to an anticipated economic recovery ushered in by the new political environment.

The Johannesburg Stock Exchange-listed agriculture and agro-processing group's chief executive officer Peter Staude said the major transition in the government's leadership had created more positive local and international sentiments.

"The prospect of an economic recovery in Zimbabwe is expected to translate into further growth in domestic demand, particularly in the industrial sugar market," he said.

The group's sugar production in Zimbabwe fell to 392 000 tonnes in the full year to March 2018 from 454 000 tonnes in the same period last year as low dam levels during peak growing periods limited irrigation.

- fingaz
Tags: TongaatMobile,


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