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Tanzanian company’s Tongaat bid highlights growing African multinational business

Tanzanian company’s Tongaat bid highlights growing African multinational business

AN African sugar multinational is one of several companies vying to take over operations of South Africa’s Tongaat Hulett Sugar in an acquisition deal that would highlight the potential for shared collaborations among African corporations to achieve business success. “We identified Kagera Sugar as the preferred candidate… The group is financially sound, with a solid track record,” stated the Tongaat Hulett company's business rescuers on the company website in July. Kagera Sugar is a subsidiary of Super Group, a Tanzanian conglomerate controlled by Tanzanian businessman Seif Ali Seif and his family. The company operates subsidiaries in the Democratic Republic of…
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