Tongaat to sell eSwatini sugarcane farm for $21m

The move is part of an effort by Tongaat to cut its debt by R8.1 billion.
Image: Supplied

Indebted South African sugar producer Tongaat Hulett said on Wednesday it would sell a sugarcane farm in eSwatini to the country’s public pension fund for R375 million ($21.83 million).

The move is part of an effort by Tongaat to cut its debt by R8.1 billion by selling assets, cutting costs and potentially even raising capital.

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