SYDNEY MUBAIWA
CHIREDZI- Vision Group, an investment consortium comprising local and foreigners has officially taken over operations from Tongaat Huletts Zimbabwe, a bold move which is set to reshape the future of the country’s sugar industry.
The development marks a significant turning point for the troubled sugar company, which has been under business rescue following prolonged financial struggles.
Speaking during a stakeholders introduction symposium held at Hippo Valley Country Club in Chiredzi on Tuesday last week, Vision Group Chief Executive Officer Gavin Dalgleish emphasised the organisation’s intentions, expressing their commitment in reshaping the country’s sugar industry.
“Vision acquired Tongaat’s debt and assets across the region and we have now begun seeking all necessary regulatory approvals. We met with Zimbabwean ministers and the Reserve Bank of Zimbabwe to discuss future plans and exchange control approvals. We all want a fresh start with a solid 10 year masterplan,” he said.
He said the 10 year plan would address long standing issues in the sugar industry including land allocation issues.
Speaking at the same meeting, Rute Moyo, the organisation’s country representative said the consortium was aimed at maintaining a balanced scale in all its operations.
“We are not just turning things around. We are starting afresh. The previous company had not maintained a balanced scale in its operations but Vision Sugar Zimbabwe is aimed at transparency, fairness and productivity,” he said.
He said the group was undertaking responsibility of settling legacy debts incurred by Tongaat, which has left many stakeholders across the sector cautious over the years.
The meeting was attended by sugarcane farmers, growers, local associations, government representatives and traditional leaders.
Vision Group is an Investment Consortium which comprises of Terris AgriPro, Remoggo, Guma Agri and Almoiz NA Holdings.
