South Africa - Durban - 17 February 2026 - Fears rise as the sugar producer Tong Tongaat Hulett
Image: TUMI PAKKIES
Vision Group has warned against false reports that businessman Peter Moyanga has joined the bid to save Tongaat Hulett Limited (THL), which is facing possible liquidation.
In a statement, the organisation expressed grave concern over the circulation of factually incorrect social media reports claiming that Moyanga has joined Robert Gumede in the “acquisition” of Tongaat Hulett Limited (THL).
The statement added that while the Business Rescue Practitioners (BRPs) applied for provisional liquidation on 12 February 2026, the matter remains before the High Court. Vision continues to pursue a constructive resolution with the IDC, the BRPs, and other key stakeholders.
The Vision Group is a key player in the matter, as it owns part of the debt owed by Tongaat Hulett.
"Vision wishes to place it on record that this information is a complete fabrication that emanated from a social media post, amongst others, by Buzzlife. The writers are unknown to any of the Vision shareholders, nor have they spoken to us. Peter Moyanga is a renowned businessman in his own right and certainly has not joined the ownership or leadership structure of the Vision Group.
"It is deeply regrettable that these 'nonsense social media posts' have been elevated by certain media outlets without any checking with Vision, as this misinformation has the potential to destabilise a sensitive commercial process that is critical to the South African economy,” it said.
The company said it continues to pursue a constructive resolution with the Industrial Development Corporation (IDC), the BRPs, and other key stakeholders.
"As Vision Group, we are greatly encouraged by the recent call from President Cyril Ramaphosa for his government to move decisively to save the company and protect thousands of vital jobs, including the protection of the local sugar industry from imports.
"In alignment with the President’s directive, Vision remains available to engage with all stakeholders, including the government and the IDC, to pursue a resolutive solution to THL’s distress. Every day of delay causes further damage to THL and the broader sugar ecosystem, and Vision Group believes that now is the time for decisive leadership to secure a solution that is within reach.
"Vision remains committed to the strategic acquisition of THL as a long-term investment, with a pledge to ensure that the integrity of the South African sugar industry is preserved through transparency, inclusive ownership, and operational excellence," it said.
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