The Congress of South African Trade Unions (COSATU) welcomes the announcement of a rescue package to save sugar giant, Tongaat Hulett and 250 000 jobs along the value chain. The potential liquidation of this massive South African company and cornerstone of KwaZulu-Natal and Mpumalanga’s economies would have been a blow we simply could not afford. Whilst the details of the turnaround package announced by the Industrial Development Corporation (IDC) and Vision must still be broken down in full, this announcement gives hope and comfort to the 250 000 workers and their families, communities and SMMEs along the entire value chain. We are pleased that this intervention ensures that this cornerstone South African company remains in South African hands and that the African National Congress led government, through the Department of Trade, Industry and Competition and the IDC played a central role. It is positive that Vision, is a Black led company, testimony of efforts to deracialise the economy’s still prevalent apartheid ownership patterns. The public commitment by Vision and the IDC, the new majority owners of Tongaat Hulett, to work closely with workers and Organised Labour, is appreciated. A partnership between the company and its employees and Organised Labour is key to ensuring its successful turnaround and that no worker, nor community is left behind. It is critical that this turnaround be premised upon saving all 250 000 jobs along the value chain, more so as the nation battles a devastating 43.7% unemployment rate. It is essential that the Sugar Master Plan continue to ensure that the necessary supportive measures to nurture and sustain this important industry are in place, including protecting local growers and emerging farmers from cheap illegal imports. COSATU looks forward to engaging with the IDC and Vision on their strategies and plans for Tongaat Hulett and to ensure that the needs of workers and their families and communities are placed at the heart of its restructuring and revival. Issued by COSATU Matthew Parks (COSATU Parliamentary Coordinator) Mobile: 082 785 0687 Email: matthew@cosatu.org.za Article Source: COSATU
The Congress of South African Trade Unions (COSATU) welcomes the announcement of a rescue package to save sugar giant, Tongaat Hulett and 250 000 jobs along the value chain. The potential liquidation of this massive South African company and cornerstone of KwaZulu-Natal and Mpumalanga’s economies would have been a blow we simply could not afford.
Whilst the details of the turnaround package announced by the Industrial Development Corporation (IDC) and Vision must still be broken down in full, this announcement gives hope and comfort to the 250 000 workers and their families, communities and SMMEs along the entire value chain.
We are pleased that this intervention ensures that this cornerstone South African company remains in South African hands and that the African National Congress led government, through the Department of Trade, Industry and Competition and the IDC played a central role. It is positive that Vision, is a Black led company, testimony of efforts to deracialise the economy’s still prevalent apartheid ownership patterns.
The public commitment by Vision and the IDC, the new majority owners of Tongaat Hulett, to work closely with workers and Organised Labour, is appreciated. A partnership between the company and its employees and Organised Labour is key to ensuring its successful turnaround and that no worker, nor community is left behind. It is critical that this turnaround be premised upon saving all 250 000 jobs along the value chain, more so as the nation battles a devastating 43.7% unemployment rate.
It is essential that the Sugar Master Plan continue to ensure that the necessary supportive measures to nurture and sustain this important industry are in place, including protecting local growers and emerging farmers from cheap illegal imports.
COSATU looks forward to engaging with the IDC and Vision on their strategies and plans for Tongaat Hulett and to ensure that the needs of workers and their families and communities are placed at the heart of its restructuring and revival.
Issued by COSATU
Matthew Parks (COSATU Parliamentary Coordinator) Mobile: 082 785 0687 Email: matthew@cosatu.org.za
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