Mpumalanga-based billionaire businessman Robert Gumede, whose Vision Group acquired the debt of Tongaat Hulett, has undertaken to save the historic sugar and milling company from liquidation.

During a meeting with King Misuzulu kaZwelithini on Wednesday, Gumede outlined his vision to repurpose the company, emphasising its critical economic role within the Zulu kingdom. Also present were the Royal Chancellor, Inkosi Malusi Zondi, and the Traditional Prime Minister, Reverend Thulasizwe Buthelezi.

The undertaking comes despite Tongaat Hulett’s business rescue practitioners having already approached the Durban High Court to apply for a liquidation order, citing that the company could no longer be saved.

Gumede, however, has other plans. He told the Zulu King and his delegation that they are looking to turn the company into an electricity and ethanol-producing giant, aligning with global trends where sugarcane is not only used to produce sugar and related products, but is also used to produce fuel.

With its modern and vast infrastructure, Gumede believes that the company is ideally placed to easily achieve that goal.

“We want to transform this company. Right now, we are able to produce electricity to run factories. So, we want to produce electricity and sell it to Eskom.

“Secondly, we want to produce ethanol and generate fuel for cars, all that out of sugarcane. In this case, Your Majesty, we want your land to be used by your people to produce sugarcane, create jobs, and on our side, get sugarcane to produce sugar without discarding anything, and then produce electricity and ethanol,” Gumede said at the meeting.

The King and his delegation welcomed the proposal and pledged their support for the initiative.