The Chancellor of the Zulu nation, Inkosi Malusi Zondi, has written to the Industrial Development Corporation (IDC) and asked it to shed light on the proposed transaction with the Vision Group to bail out struggling sugar giant, Tongaat Hullet.
Zondi says he is concerned about the secrecy around the deal and that, should there be a misstep, the collapse of Tongaat Hullet will not only hit the economy of KwaZulu-Natal, but it will also hit small and emerging farmers on Ingonyama Trust land whose livelihoods depend on the company.
In the letter dated 13 August 2026 and seen by the African Times, Zondi said Tongaat Hulett is not an ordinary commercial enterprise, but its business tentacles are deeply embedded in the economy, history and social fabric of KwaZulu-Natal.
He stressed that the company’s future has direct consequences for thousands of employees, emerging and established sugarcane growers, traditional communities, Amakhosi, contractors, suppliers, business forums, municipalities and families whose livelihoods depend on the continued operation and long-term sustainability of the sugar industry in the province.
“The continued lack of information regarding the proposed transaction is creating unacceptable uncertainty among these stakeholders. It is also fueling speculation, mistrust and fear about the future ownership, governance, funding and operations of Tongaat Hulett.
“Of particular concern is that stakeholders who carry the greatest economic and social consequences of any decision appear not to have been adequately consulted or formally briefed,” Zondi said in the letter.
Amongst Zondi’s demands, he said the Zulu Royal Household requires urgent written clarification on the current status of the proposed transaction between Tongaat Hulett, Vision Group and the IDC, the precise nature and extent of the IDC’s proposed financial or strategic participation in the transaction and whether any binding agreements, funding commitments, approvals or undertakings have already been concluded;
He also wanted answers from the IDC regarding the ownership, control and governance structure proposed for Tongaat Hulett following the transaction; the identity of the ultimate beneficial owners and controlling interests associated with Vision Group and the proposed acquiring structure.
Despite repeated requests for comment and reminders, the IDC had not taken up the opportunity to do so by the time this report was published.
