Tongaat Hulett has sold its Eswatini agri-business, Tambankulu Estates, to the Public Service Pensions Fund for R375 million as part of its turnaround strategy to enhance financial stability and reduce debt.

Information on the Target

Tongaat Hulett has recently announced the sale of its Eswatini agricultural business, Tambankulu Estates, to Eswatini’s Public Service Pensions Fund (PSPF) for R375 million. Tambankulu Estates stands as the largest independent sugarcane estate in Eswatini, encompassing over 3,700 hectares of land in the north-eastern region, specifically located near the Black Umbuluzi River. The estate produces approximately 62,000 tons of sucrose annually and employs modern agricultural practices, including advanced irrigation systems, fertigation techniques, artificial ripeners, and herbicides. Its sugarcane output is delivered to the nearby Simunye and Mhlume sugar mills.

Industry Overview in Eswatini

Eswatini's agriculture sector plays a significant role in its economy, with sugarcane being one of the main agricultural products. The country has been focusing on boosting its agricultural productivity to address food security and enhance economic development. The sugar industry has remained a critical contributor to exports and has consistently been a part of the agricultural landscape, providing jobs and fostering local development.

In recent years, there have been efforts by the government and private sectors to modernize agriculture through investments in technology and sustainable practices. This shift aims not only to inc