JUST IN: Tongaat in the eye of storm over farmers’ US$52 million
From George Maponga in Masvingo
Lowveld sugar producer Tongaat Huletts Zimbabwe is in the eye of a storm after it allegedly used sugar cane export proceeds for more than 1 000 indigenous farmers in Chiredzi without their permission.
The firm was reportedly paid US$52 million in January for sucrose exports by the Zimbabwe Sugar Sales (ZSS), which markets and receives payment for all the sugar sold on the local and international market.
Tongaat was supposed to work out ways of paying out-grower farmers their share from the exported sugar but went on to use all the money without even consulting them. Farmers only received payment for sugar sold on the local market with Tongaat reportedly insisting that it used the hard currency to import fertilisers for the industry.
More to follow…
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