Vision Group has refuted social media claims linking businessman Peter Moyanga to Robert Gumede’s Tongaat Hulett acquisition bid, cautioning that the misinformation could disrupt critical efforts to rescue the troubled sugar producer and preserve thousands of jobs.
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Vision Group has dismissed circulating social media claims that businessman Peter Moyanga has joined the group led by Robert Gumede in a bid to acquire Tongaat Hulett Limited (THL), describing the reports as “a complete fabrication”.
In a statement issued this week, the group said it had noted with “grave concern” what it called factually incorrect reports suggesting that Moyanga had become part of the ownership or leadership structure involved in the acquisition of the embattled sugar producer.
The claims were widely circulated on social media platforms, including a post by Buzzlife, which Vision Group said had been published without any verification from its shareholders.
“Peter Moyanga is a renowned businessman in his own right and certainly has not joined the ownership or leadership structure of the Vision Group,” the statement read.
Vision Group has dismissed claims that Peter Moyanga has joined Robert Gumede, pictured, in a bid to acquire Tongaat Hulett Limited.
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The group expressed regret that the claims had been amplified by some media outlets without verification, warning that the misinformation could destabilise an already sensitive commercial process.
Vision said inaccurate reporting had the potential to undermine ongoing efforts to find a solution to Tongaat Hulett’s financial crisis, which it described as critical to the broader South African economy.
The company is currently embroiled in business rescue proceedings, with Business Rescue Practitioners having applied for provisional liquidation on February 12. However, the matter remains before the High Court.
Despite the legal process, Vision Group said it continues to pursue a constructive resolution with the Industrial Development Corporation (IDC), the business rescue practitioners and other key stakeholders.
The group also welcomed recent remarks by President Cyril Ramaphosa calling for urgent action to save Tongaat Hulett and safeguard jobs linked to the company and the wider sugar industry.
Vision said it was encouraged by the president’s call for decisive government intervention to protect thousands of jobs and shield the domestic sugar industry from growing imports.
“In alignment with the president’s directive, Vision remains available to engage with all stakeholders including the government and the IDC to pursue a resolutive solution to THL’s distress,” the group said.
It added that delays in resolving the company’s future were continuing to harm both Tongaat Hulett and the broader sugar sector.
Vision Group reiterated that it remains committed to the strategic acquisition of Tongaat Hulett as a long-term investment and pledged to safeguard the integrity of the South African sugar industry through transparency, inclusive ownership and improved operational performance.
Moyanga became one of the first owners of the McDonald's franchise in 2003 and now + several branches of the fast food giant across South Africa and had been involved with the brand since 1995. He also owns Moyanga Family Foods company and is considered an expert in the field of franchising, property and business development.