South African group Tongaat Hulett wants to expand business in Angola

29 May 2018

South African group Tongaat Hulett plans to expand its business in countries that import most of the sugar they consume according to a strategy focused on central and southern Africa, the group’s chief executive told Reuters.

Peter Staude has already started talks to expand the group’s business in that country, which although it is the second largest oil producer in Africa, after Nigeria, has an estimated sugar deficit of 300,000 tons per year which is guaranteed mostly by Latin American and Asian producers.

Staude said specifically that one of the possibilities being considered is the construction in Angola of a packaging and distribution centre and carrying out a study to determine the best regions in the country to plant sugar cane and manioc.

Data released by the National Shippers Council of Angola showed that sugar was the most imported product in the fourth quarter of 2017, with 121,621 tons, compared to 91,898 tons in the same period of 2016, or an increase of 32.34%.

Angolan bioenergy company Biocom, one of the country’s largest agro-industrial projects, plans to produce 100,000 tons of sugar this year, helping to reduce imports and meet domestic demand. (macauhub)