High Court showdown looms over Tongaat Hulett Botswana
Mbongeni Mguni | Monday May 25, 2026 06:00
The case follows an attempt in February by Bowwood and Main No 296 Pty Ltd to take control of THB via a successful ex parte application before the High Court. The order was for a general notarial bond over the assets of Tongaat Hulett held in THB.
Tongaat Hulett Ltd was placed in business rescue in 2022 after failing to recover from an accounting scandal that exposed huge debts and left the 133-year-old company owing billions of pula to various banks and lenders.
Business rescuers then approached several interested parties to finalise a deal that would see the debt settlement with an exchange of equity or other arrangement. Vision Group, the winning entity, which reportedly is a consortium registered in Mauritius, has since engaged in legal battles in South Africa, after Tongaat’s business rescuers alleged the investor failed to fulfil the terms of the takeover.
Documents placed before the High Court in Botswana indicate that Bowwood, an entity associated with Vision Group, gained an ex parte order granting control over Tongaat’s equity in THB on February 26. An ex parte order or application is a legal request made to a court by one side only, without the other side being present or notified beforehand.
However, last week, the business rescuers, Tongaat and THB, were granted an interdict against Bowwood for rescission of the ex parte order, pending a final hearing on June 22.
“On May 13, 2026, and notwithstanding opposition by Bowwood to the rescission application, the High Court of Botswana granted an order, interdicting Bowwood from taking any steps to enforce, execute upon, implement or otherwise give effect to the ex parte order pending the final determination of the business rescuers, Tongaat and THB's entitlement to a final order,” documents from Tongaat read.
The business rescuers, Tongaat and THB, want the High Court to issue a final order rescinding the February ex parte order and, further, return THB’s status to what existed before the granting of the ex parte order.
In a statement reported by Independent Online (IOL) in South Africa, Vision Group said its case in Botswana was taken as part of steps at Tongaat’s regional subsidiaries “to preserve security interests over those assets”.
“As any lender of substantial funds would be entitled to do against a borrower which is in default, prudent steps have been taken to preserve security, not to acquire such assets outside of any legal process,” IOL quoted Vision as saying.
In February, THB directors stressed that the provisional liquidation and other legal proceedings against Tongaat in South Africa had no operational impact on Botswana.
“Tongaat Hulett’s Botswana operation remains stable, secure, and focused on continuity,” THB general manager, Peter Freeman, said in a statement.
According to available records, Blue Crystal Sukiri was established in Francistown in 1985 as a sugar packing and distribution operation owned by the Botswana Development Corporation. Tongaat Hulett acquired majority shares and renamed the operations to Tongaat Hulett (Botswana) (Pty) Ltd in 2008.
Blue Crystal – as the company is still branded – sources its brown and white sugar from parent Tongaat Hulett’s operations in the SADC region.