Zimbabwe News and Internet Radio

Tongaat leases out non-core businesses

By Walter Mswazie

Tongaat Hulett Zimbabwe (THZ) is leasing out most of its non-core businesses under Hippo Valley and Triangle Estates to interested parties and has set this week as the deadline for the bidding.

Tongaat Hulett
Tongaat Hulett

In a public notice the company said the bidding process was open to business entities or individuals keen to run retail shops, beerhalls and canteens on five-year lease agreements.

“As part of the operations’ corporate social responsibility, the company provides a wide range of social amenities, which are retail shops, beerhalls and canteen services.

“In line with the Tongaat Hulett all-inclusive approach to socio-economic development, interested parties from within the South Eastern Lowveld of Zimbabwe are invited to submit bids to lease retail shops, beerhalls and canteens that are within Triangle Ltd for minimum period of five years,” reads the notice.

While company spokesperson, Ms Adelaide Chikunguru, could not be reached for comment, inside sources said Tongaat was leasing out its businesses citing prevailing economic hardships.

“Tongaat Hulett, like any other company, is finding it expensive to run other businesses apart from its core activity of farming and milling sugar. This is the reason why it has decided to invite independent operators to take over the running of shops, beer halls and canteens,” said the source on condition of anonymity.

The bidders are expected to meet certain requirements such as provision of proof of experience in the areas tendered, a detailed company profile with certified copies of certificate of incorporation, VAT registration, tax clearance certificate (ITF 263),CR14 directors listing and National Social Security Authority (NSSA) letter of good standing.

According to the notice interested bidders are expected to assemble at Triangle Country Club on August 8, 2019 and a tender committee will be responsible for the bids’ adjudication.

“The committee reserves the right to accept or reject any bid and there shall be no other obligation to give any reasons for the rejection of a bid so received. Please be advised that any attempt to canvass for the purposes of unethically improving the bidder’s chances of success could result in disqualification from the bid process,” said Tongaat. The Chronicle