A court granted business rescue practitioners leave to withdraw the liquidation application for Tongaat Hulett, preventing the company’s collapse. According to citizen.co.za, the agreement between the business rescue practitioners, the Industrial Development Corporation (IDC), and the Vision Group of companies saved at least 250,000 jobs across South Africa’s sugar industry value chain. As part of the deal, the IDC will extend Tongaat Hulett’s post-commencement finance facility to September 2026 and become a significant shareholder in Vision companies across South Africa, Zimbabwe, Mozambique, and Botswana. According to allafrica, attempts to take over Tongaat Hulett have been shadowed by suspicions that the initiative is driven by politically exposed Zimbabweans seeking to externalise their cash and influence by gaining control of the sugar value chain in Southern Africa. The headline characterizes the Tongaat Hulett business rescue as brinkmanship in service of a dubious Zimbabwean elite.