Government, IDC oppose Tongaat Hulett liquidation:
While Tongaat Hulett Pty Limited’s (THL) business rescue practitioners (BRPs) seek liquidation, which they regard as a solution to the financially-ailing South African sugar producer, parties opposed to the move have filed court papers to block it.
Among those opposing liquidation is the Industrial Development Corporation (IDC), which has warned that the move would lead to the winding-up, business interruption and possible cessation of operations.
In an affidavit deposed by IDC’s Bongani Winston Tutu Miya, seen by the Mail & Guardian, the development finance institution has cautioned about the rights of secured creditors, saying the value of all security held by them would also erode.
“The rights of employees will be determined in accordance with the statutory preferences accorded to them in terms of the Insolvency Act, 1936.
“It is unlikely that liquidation funding will be available and this will result in a forced sale of assets – at huge discount to market value.
“Most importantly, a liquidation will result in the loss of the capability inherent in the assets of THL – reducing agricultural and industrial capacity with no guarantee of a recovery,” said Miya.
Maintained Miya: “In a liquidation, inventory will fall to be realised under forced-sale circumstances. Debtor recovery will be severely impacted. Market confidence will erode.
“The benefits of ongoing trading will be lost. Mills will cease operations, and the likelihood of the mills being able to restart will worsen over time. A liquidation will have a significant impact on the supply ecosystem.”
He said about 100 000 hectares of agricultural land supplying the mills would be affected.
“The value of these properties is derived from their productive capacity, as dryland cane farms. In the absence of a functioning mill and a viable cane market, the value of these properties will erode.
“This will destabilise rural farming communities who are dependent on operating mills. The livelihoods of farmers will be threatened with many being unable to operate, pay salaries to their staff and discharge financing obligations obtained for farming operations,” added Miya.
The IDC supports a business rescue, saying it “will, with the support of ongoing PCF (post-commencement finance) by the IDC, provide operational continuity and preservation of jobs”.
Said Miya: “The business relationship with suppliers and key stakeholders will be preserved. Most importantly, it will be a lot easier to continue trading and preserve the going concern status of THL through a funded business rescue, as opposed to a liquidation process.
“A funded liquidation process will not be able to instil any level of confidence within the market and with all THL’s stakeholders. There is a lot at stake in relation to THL.
“The mills operated by THL support the livelihoods of thousands of cane growers, small and large. A liquidation will have a huge impact on food producers who rely on sugar in their production process.
“If a constant volume of sugar is not available, producers will seek alternatives resulting in the death of THL as a player producing sugar for the South African market.
“The impact of the collapse of THL will also have a financial impact on other millers and the levies payable by them in terms of the Sugar Industry.”
While sentiments expressed by the IDC to oppose the THL liquidation have been endorsed by the government, the Vision Sugar Group has remained non-aligned.
Court papers deposed by Vision director Rutenhuro Moyo indicate the company’s stance on the liquidation application by the BRPs.
Said Moyo: “Vision has neither opposed nor supported the main application which seeks the discontinuation of THL business rescue and its provisional winding up.
“Vision acknowledges THL’s cash flow crisis and the breakdown in negotiations that necessitated the BRPs bringing the main application.
“Vision has, however, remained committed to addressing the true causes that necessitated the main application. Vision has been in constant negotiations with, among others, the IDC and the BRPs to seek means of salvaging the stated Vision plan.:”
The BRPs of THL have maintained that the liquidation application was filed after no binding financing arrangement was concluded between secured lenders Vision Sugar Group and the IDC, with the sale agreements having lapsed.
Legal expert explains what needs to happen to save Tongaat Hulett
Lawyer JDK Reitz has explained the intricate unfolding legal processes to be followed in the possible liquidation of Tongaat Hulett Limited (THL)
The financially-embattled sugar giant entered business rescue in October 2022 following severe accounting irregularities, financial misstatements and governance failures under former senior management.
About R12 billion in shareholder value was destroyed, with the company’s balance sheet, credibility and access to funding severely impaired.
Robert Gumede’s Vision Sugar Group, which has taken over THL as a secured lender, bought the company debt from all 13 banks.
The shrewd business move has elevated Vision to be firmly in control and the lender at THL. Vision is not a strategic equity or a black economic empowerment partner, as some people have mistakenly believed. It is essentially the bank and the lender.
Therefore, no deal can succeed without the involvement of the Vision Group.
According to Reitz, the business rescue practitioners (BRPs) who were appointed in the business rescue proceedings of the company, applied for its liquidation in terms of section 141(2)(a) of the Companies Act on the grounds that there was no reasonable prospect of the company being rescued.
Reflecting on the state of affairs at THL, BRPs explained to the Mail & Guardian that the liquidation application was filed last week after no binding financing arrangements could be concluded between secured lenders Vision Sugar Group and the Industrial Development Corporation (IDC), with the sale agreements having lapsed.
This, they said, led to the adopted business rescue plan no longer being legally implementable – compelling the BRPs to approach the court in terms of section 141(2) of the Companies Act, to place the company under liquidation.
The Durban High Court adjourned the hearing to a date to be allocated by the judge president. It has not only given parties a respite, but an opportunity to engage on the future of THL and find a possible way forward.
In dealing with powers of the court in hearing the application for the liquidation of THL, options available to affected persons to participate in the liquidation proceedings and to liquidators in dealing with company assets in its winding up, Reitz said: “Affected persons as defined in the Act, are entitled to participate in any court proceedings arising during business rescue proceedings – including proceedings commenced under section 141(2) of the Act.”
Explained Reitz: “In hearing the application in terms of section 141(2), the court may make the order applied for, or make any other order that the court considers appropriate in the circumstances.
“In addition, and having regard to the provisions of section 131(7), a court may again make an order – placing the company under supervision and commencing new business rescue proceedings, including an order appointing an interim practitioner who satisfies the requirements for practitioners – as contemplated in section 138.
“Chapter 14 of the Companies Act of 1973 continues to apply in the winding up and liquidation of insolvent companies which, in turn, renders the law relating to insolvency applicable to the winding up.”
In a winding up of the company in terms of the insolvency laws, Reitz said: “Liquidators appointed must forthwith recover all the assets of the company, realise the assets – subject to directions from creditors and shareholders at general meeting or if satisfied that assets of the company ought forthwith to be sold, with the authorisation obtained from the Master of the High Court.
“The net proceeds of such realisation should be distributed in terms of the scheme of distribution contemplated in sections 98A to 104 of the Insolvency Act read with section 135 of the Act.”
Reitz said shareholders and creditors of the company – registered trade unions representing employees and employees – were among key stakeholders during the consultation process.
Said Reitz: “Secured creditors enjoy certain limited rights to realise the security they hold prior to the second meeting of creditors and as provided for in section 83 of the Insolvency Act;
“Liquidators have limited powers to carry on or discontinue any part of the business of the company in so far as may be necessary for the beneficial winding up – subject to being empowered by creditors to do so or with the leave of the court.”
According to Reitz, a liquidator may propose an arrangement or compromise of the financial obligations of the company to all creditors as contemplated in section 155 of the Act.
“In practice, this only happens if a proposal is made and funding is obtained from a third party – subject to conditions which inevitably includes a condition that the third party acquires a shareholding in the company.
“The objectives of schemes in terms of 155 of the Act are similar to those contemplated in chapter 6 of the Act dealing with business rescue.
“For a proposal contemplated in section 155 to be adopted, it requires the support of the majority in number – representing at least 75% of the different classes of creditors, secured, statutory preferent and concurrent present and voting at the meeting called for that purpose.”
Three outcomes are possible for the company.
“Firstly, the practitioners withdraw the current application and proceed to implement the adopted plan.
“Secondly, affected persons exercise their statutory right to participate in the liquidation proceedings and persuade the court to exercise its powers to commence new business rescue proceedings and appoint an interim business rescue practitioner.
“Finally, the company is placed under winding up order, assets are realised and the proceeds thereof distributed as contemplated in the insolvency laws.
“Alternatively, a scheme of arrangement or compromise is adopted in terms of section 155 of the Act,” said Reitz.
Zille pledges 200 000 new jobs in Johannesburg:
Democratic Alliance Johannesburg mayoral candidate Helen Zille has launched her “Get Joburg Working” mayoral campaign, pledging to create 200 000 new jobs in Johannesburg.
Zille unveiled five campaign pledges during the launch, with water supply and job creation forming the centrepiece of her platform. Her third pledge focuses on attracting at least 200 000 new jobs to the city.
She said recent labour market trends show Johannesburg losing jobs while Cape Town has recorded employment gains.
In the past three months, Johannesburg lost 49 000 jobs while the DA-run City of Cape Town gained 69 000 jobs.
“We will attract these 200 000 new jobs by bringing Joburg’s business centre back to life and restoring confidence in our city, because when there is confidence business will invest and create jobs. That is just the rules of economics,” she said.
Zille said more than 400 000 jobs had been created in Cape Town and that the DA intended to replicate similar results in Johannesburg.
Her first pledge focuses on stabilising basic services such as water and electricity.
“Our first pledge is, what else could it be, to provide reliable clean water and a steady electricity supply. The people of Joburg pay for these services and often don’t get them,” she said.
Zille said her administration would ring-fence revenue from rates and taxes to fix and maintain infrastructure.
“Money collected for water must fix water, money collected for electricity must fix electricity, and not fund the ANC’s friends and family, and blue lights and Johnny Walker blue. The only blue thing that is in Johannesburg is the DA,” said Zille.
Her second campaign pledge centres on repairing the city’s roads and transport infrastructure.
“We will fix the road that keeps Joburg moving and we won’t call a ribbon cutting every time we fix a pothole because they’ll be fixed every single day. And within the end of our term we will be able to fill potholes within 72 hours of reporting them,” she said.
Zille also committed to ensuring that 90% of traffic lights are operational and to restoring order at road intersections.
She said there are more than 50 000 broken pipes reported annually and more 100 000 potholes destroying cars, adding that the current administration lacked a plan to address the crisis.
Zille also took aim at Patriotic Alliance deputy president Kenny Kunene who serves as the city’s transport member of the mayors committee over a recent pothole repair event.
“Fixing a pothole has become such a rare event in Jozi that Kenny Khunene announced a ribbon cutting ceremony yesterday to celebrate the occasion. He wanted to cut a ribbon to open a fixed pothole. He probably just opened another pothole.”
“He couldn’t even get to his ribbon cutting ceremony because another pipe had burst nearby creating another pothole.”
“That is why he is called Kenny Khunene of the Pothole Alliance,” she said.
Zille’s fourth pledge focuses on law enforcement and tackling corruption: “We will kill corruption even if the corrupt try to kill us”.
She said job creation and stronger policing would help fight crime, reclaim hijacked buildings and curb illegal land invasions.
“We will have zero tolerance for corruption, and illegal immigration that undermines the rule of law. Crime destroys cities,” she said.
Zille also promised action against corruption within the Johannesburg Metropolitan Police Department: “We will fire corrupt officers and send them to jail”.
Her fifth pledge centres on building a professional and capable municipal administration.: “We want results. We will treat our law abiding services with the respect they deserve,”
“We ask you to pay your rates and taxes and in return we pledge to rebuild the city’s capacity to deliver quality services and fair value for money,” she said.
Zille said political decisions and voter choices had contributed to the city’s decline.
“Politics and voter choices broke Joburg, but only politics and new voters choices can fix Joburg,” she said.
She also reminded voters that President Cyril Ramaphosa had previously praised municipalities governed by the Democratic Alliance as among the country’s best administered.
“Everyone knows what we know. If Joburg fails, South Africa fails. But if we can get Joburg working we can get South Africa working,” she said.
Zille said Johannesburg faced an infrastructure backlog estimated at R300 billion and accused the ANC-led coalition governing the city of failing to invest adequately in services.
She said the current administration spends less than 10 cents of every rand collected from rates and taxes on infrastructure.
“And since the last local government election in 2021 mayors in the ANC coalitions of chaos have only focused on surviving the next motion of confidence,” she said.
Zille said municipalities governed by the DA, including Cape Town and Midvaal, demonstrated improved outcomes for residents.
“Absolute poverty in Cape Town has dropped from 33% when the ANC governed Cape Town to 19% now. That is the most important statistic to tell our critics who say we only govern for the suburbs,” said Zille.
From Congo to China: 309 freshwater fish species uncovered last year:
A wave of scientific discovery is rewriting what is known about life in rivers, lakes and wetlands, while exposing how quickly it could disappear.
Freshwater ecosystems cover less than 1% of the Earth’s surface, yet scientists described 309 new species of freshwater fishes last year alone, according to a new report released this week.
New Species 2025, published by the conservation initiative Shoal, highlights the remarkable diversity being uncovered beneath the surface — and the urgent conservation questions that follow.
By spotlighting newly described freshwater fishes each year, Shoal hopes to accelerate awareness, encourage collaboration and support the journey from freshwater species discovery to conservation action.
Many of the 309 newly described species are found nowhere else on the planet. From cave-dwelling fish in China to seasonal killifish in East Africa and minnows from Anatolian streams, the discoveries reflect years of fieldwork, taxonomic expertise and international collaboration.
Across continents and climates, taxonomists identified species that had lived unseen in caves, lingered unrecognised in museum collections, persisted in seasonal pools that dry to cracked mud or flowed quietly through rivers believed to be well studied.
Mike Baltzer, the executive director of Shoal, described 2025 as a “bumper year for freshwater fish descriptions with 309 new names added to the ledger of freshwater fish diversity”. It was a staggering number, reflecting nearly one “new” species discovered every day throughout 2025.
“It is the most in one year since 2017 and the third-highest number since records began way back in 1758. From Asian karst caves and peat swamps to Amazonian rapids, African seasonal wetlands to Appalachian rivers, it is a reminder that freshwater biodiversity is still unfolding before us,” he wrote in the report’s foreword.
Baltzer noted that many of this year’s new species were known from single drainages, individual tributaries, isolated wetlands or solitary cave systems. “Freshwater ecosystems fragment landscapes naturally. Over evolutionary time, a ridge or subtle shift in drainage is enough to isolate and diversify.”
Taxonomy, he said, was “patient work”, requiring comparisons across collections, careful measurement, genetic sequencing and many years of accumulated field knowledge. Specimens sometimes sat on laboratory shelves for decades before they were formally described.
“Without a formal scientific description, a species cannot be assessed for the International Union for Conservation of Nature Red List. It cannot be properly regulated in trade or embedded within legislation or management plans. It cannot be counted accurately in biodiversity assessments. A species without a name exists biologically but remains invisible institutionally.”
Taxonomy therefore remained one of conservation’s quiet foundations. “And it begs questions: How many species remain undocumented? And how many may disappear before anybody has had the opportunity to recognise them?”
The report, Baltzer said, offered a snapshot of a moving frontier. “It reflects where taxonomic attention is focused, where biodiversity remains under-surveyed and where evolutionary processes continue to surprise us. Above all, it underscores a simple truth: freshwater life is richer than we fully understand.”
Among the standout species is Yang’s plateau loach, a cavefish from China’s Yunnan Province whose expanded swim bladder chambers protrude visibly from its body, giving the impression of a built-in lifejacket.
“Adapted to the perpetual darkness of karst rivers, it appears to hover motionless in the water column — an elegant solution to life where energy is scarce.”
In nearby Sichuan, another subterranean surprise emerged: the Sichuan mountain cave loach, the first obligate cave-dwelling member of its genus. Pale, reduced-eyed and ghostlike, it extended the ecological boundaries of its lineage into a realm previously unrecorded, the report said.
From the seasonal wetlands of the Democratic Republic of the Congo came four new Nothobranchius killifishes. The annual species hatch, mature and reproduce in temporary rain pools that might exist for only weeks. When the water disappears, the adults perish but their drought-resistant embryos endure in the mud, waiting for the next rains. Each shallow depression can hold a species found nowhere else on the planet.
In Brazil’s Atlantic Forest, the Floripa sabrefin killi survives in rain-fed pools on a single island increasingly transformed by development. Barely reaching 2.6cm in length, it lives in wetlands so shallow and grass-covered they can appear dry to the untrained eye.
North America’s discoveries show that biodiversity can remain hidden even in well-studied regions.
“Two brilliantly coloured darters, the Birmingham darter and Gurley darter, were distinguished from their relatives in Alabama streams. And two large river fishes long recognised but unnamed, the sicklefin redhorse and Apalachicola redhorse, finally received formal descriptions after decades of careful work.
“Elsewhere, the newly described Anatolian minnow from Türkiye demonstrates how detailed revision can reveal that what once appeared widespread is, in fact, a mosaic of distinct local lineages.”
In Africa, two spine killifishes were described from museum specimens that had waited years for careful re-examination — a reminder of the hidden discoveries resting in collections.
But the discoveries come with a warning.
Of the 309 freshwater fish species described last year, only one has been assessed for the IUCN Red List of Threatened Species: Nothobranchius sylvaticus, a forest killifish from Tanzania. It has been classified as critically endangered.
Freshwater fishes are among the most threatened vertebrates on Earth. The IUCN says about one in three assessed freshwater fish species is at risk of extinction. Habitat loss, dams, pollution, invasive species and climate change are driving widespread declines, often less visible than crises affecting terrestrial wildlife.
Yet freshwater ecosystems underpin the lives of billions of people, supporting drinking water supplies, food security, livelihoods and cultural traditions.
The report highlights another important pattern: many newly described fish species have extremely small ranges, sometimes limited to a single spring, cave system or stretch of river.
“In freshwater systems, where fragmentation and degradation are widespread, this makes them especially vulnerable,” Baltzer said.
He noted that the 309 species named in 2025 “expand our knowledge of the living world”.
“What happens next depends on whether that knowledge is translated into stewardship.”
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