The SAfricanSugar Association has offered R176 million in lifeline transformation funding to aid the country’s black and small-scale sugarcane growers. Moneyweb SugarIndustry
Sugar industry body the South African Sugar Association has offered R176 million in lifeline transformation funding to aid the country’s black and small-scale sugarcane growers. The first tranche of R60 million has already been disbursed to cane growers and was paid out at the end of July together with the payments for cane delivered during the prior month, SA Canegrowers said in a statement on Tuesday.
Sugar industry calls for scrapping of sugar tax, again The latest Sasa funding also follows positive developments in Tongaat’s business rescue process. The troubled sugar group moved closer to securing a strategic equity partner in Tanzania’s Kagera Sugar last month, in a proposed deal for its sugar assets. SA Canegrowers said while it welcomed the announcement of Kagera Sugar as a strategic equity partner to Tongaat, the final arrangements of the deal remain to be seen.
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