Maroc - WN.COM - Africa - 19/Feb 23:17

Tongaat Hulett collapse looms

Labour federation Cosatu has joined the chorus of dismay over the imminent liquidation of sugar giant Tongaat Hullet after its business rescuers said there was no longer any prospect of successfully implementing their plan, raising the prospect of thousands of job losses. “This is a blow we simply cannot afford in an economy that is battling — barely growing at 1%. This will affect farms, mills and other businesses in the value chain,” Cosatu national spokesperson Matthew Parks told the Mail & Guardian. “This will see thousands of scarce jobs lost at the company. The impact will be especially felt hard in Mpumalanga and KwaZulu-Natal. It will have a devastating impact upon thousands of...