News
Business rescue professionals announced on January 1st that creditors voted in favor of vision parties business recovery plan. This is positive news for Tongaat hulett employees, businesses and stakeholders in all geographies.
Maragra recovery process
The MARAGRA rehabilitation project is moving forward, with drainage and protection infrastructure repairs and field plantings. Contractors are working on civil works, and 200 contract workers are on-site. The first phase was supposed to span 7000 hectares, but water levels had decreased. The second phase, anticipated for February/March 2024, will include nursery cultivation and mechanized planting. The planting plan includes 3500 ha in 2025 and 1700 ha in 2026. Private sugarcane farmers require financial assistance from support programs.
APAMO events and meetings
The Mozambican Sugar Industry participated in the Council of State Representation Services Retreat on December 8th, highlighting the issue of illegal import and sugar smuggling. The Provincial Government promised support and a matrix of actions for DNA, Mills, and APAMO. The ISO Council set a contribution per vote of £780 for the 2024 administrative budget, with 6 votes allocated to Mozambique. The government is requested to remit £4,680 to the ISO bank account. READ MORE:
VAT EXEMPTION PRESS RELEASE
Law No. 16/2020 temporarily exempted sugar transmissions from VAT until December 31, 2023. Despite industry lobbying, the Minister of Economy and Finance did not extend the exemption period. The Tax Authority announced that transactions involving these goods and services will now be subject to 16% VAT, effective January 1, 2024. Taxpayers must immediately pay VAT on existing and future stock
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