The multinational Tongaat Hulett, which operates the sugar factories of Mafambisse in Sofala and Xinavane in Maputo province, says it is committed to maintaining its activity in all its operations in the country, while continuing its recapitalization efforts, according to a company statement.

Meanwhile, in a note, Tongaat confirms that it has been in contact with an investor interested in the company's operations.

"We are not in a position to provide any details of who is approaching us, but we can confirm that a party has approached us in this regard with a non-binding initial and exploratory expression of interest," the company states via the note.

Even with this apparent interest, the focus of the company remains on the recapitalization of the company.

"It is important to note that Tongaat remains committed to a recapitalization and remains firm in the view that a capital increase is a better alternative to strategic asset sales," the sugar company maintains.

In the two factories it owns, Tongaat Hulett is responsible for about 60% of the national sugar production. In addition to the large commercial producers that supply it, the company has also invested in a system of sugarcane production development involving local communities.

It currently includes more than three thousand small independent producers, organized individually or in associations.

Not long ago, these small producers were responsible for supplying close to 38% of cane used for sugar manufacturing.

According to recently shared data, Tongaat indicated that it intended to raise funds that are to be used to reposition the group in a sustainable way and help secure the future of its roughly 29,000 workers in operations in South Africa and Mozambique.