Tongaat Hullet group secretary Evashni Govender has resigned as the embattled sugar producer navigates an ongoing business rescue.
On Tuesday, it was confirmed that the governance leadership would change and that Govender would be in charge only for the rest of the week because she is leaving the company on Thursday.
“Ms Govender has served the group with distinction and has been employed by the company since November 2020.
“The board and the BRPs [business rescue practitioners] thank Ms Govender for her commitment and dedicated service and wish her well in her future endeavours,” the group said.
The company also announced a replacement on an interim basis, stating that Zamile Dugmore Qwemesha will take over from May 1.
“Mr Qwemesha is an admitted attorney with over 20 years’ experience in governance, risk, and regulatory compliance, with significant exposure across the legal and energy sectors and a strong focus on navigating complex regulatory environments.
“The board and the BRPs wish Mr Qwemesha well in his interim role,” the group said.
Tongaat on brink of liquidation
Tongaat Hulett is currently under business rescue and is working to stabilise its operations and balance sheet.
The company remains on the brink of liquidation following a R12-billion debt challenge; it received last-minute R200-million lifeline funding from the Industrial Development Corporation of South Africa.
The 13-year-old sugar business, once a dominant player in the sugar industry with operations in South Africa, Zimbabwe, and Mozambique, has since been selling assets, cutting costs, and seeking new investment to remain viable.
The BRPs have been steering efforts to restructure debt and restore operations, but progress has been uneven, with ongoing pressure from creditors and operational challenges in key markets.
While the group has made some progress in stabilising operations, uncertainty remains over its long-term ownership structure and financial sustainability, leaving stakeholders watching closely for signs of a durable recovery.
- Tongaat Hulett group secretary Evashni Govender resigned, effective Thursday, amid ongoing business rescue efforts.
- Zamile Dugmore Qwemesha, an experienced attorney, will replace Govender on an interim basis starting May 1.
- The company remains on the brink of liquidation due to a R12-billion debt but recently secured a R200-million lifeline from the Industrial Development Corporation.
- Tongaat Hulett has been restructuring by selling assets, cutting costs, and seeking new investments to stabilize operations across South Africa, Zimbabwe, and Mozambique.
- Despite some progress under business rescue practitioners, uncertainty persists around the company's long-term ownership and financial sustainability.
On Tuesday, it was confirmed that the governance leadership would change and that
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While the group has made some progress in stabilising operations, uncertainty remains over its long-term ownership structure and financial sustainability, leaving stakeholders watching closely for signs of a durable recovery.
