Our sugar focus is geographically specific to Sub-Saharan Africa. Sugar is an important crop for Sub-Saharan Africa where a focus on local consumption provides an opportunity for profitability and capital growth. The listings associated with the production & processing of sugar typically represent some 30% of agri-sector capitalisations for Sub-Saharan agricultural businesses. South African & Mauritius listed companies dominate the sector; each country has sugar interests with market capitalizations exceeding $1bn, followed by Zambia and Zimbabwe with listings worth over $328m and $212m respectively. The South African sugar industry is of real importance to national economies and it makes an important contribution to employment [79,000 direct jobs + as many as 350,000 indirect jobs]. Approximately one million people, more than 2% of South Africa’s population, may depend on the sugar industry for a living. The industry produces an estimated average of 2.2 million tons of sugar per season. About 60% of this sugar is marketed in the Southern African Customs Union (SACU). The remainder is exported to markets in Africa, Asia and the Middle East – but crucially not to the EU. Sugar is a critical sub-sector of agriculture in SSA, it plays an important role in economies across the region, largely as a dietary component, but there is growing interest in the crop for the production of ethanol. While Africa is frequently portrayed as being a low cost agri-producer, the low level of mechanization, high labour content and low productivity, would suggest that the reality is otherwise.