Tanganda predicts boom ahead of listing

TEA producer, Tanganda yesterday said a planned listing on the Zimbabwe Stock Exchange would have positive spin-offs to its operations.

The company, which listed on the ZSE a few days ago, is the country’s largest producer, packer and distributor of tea.

“The business has three operating divisions, agriculture, beverage and corporate and administration divisions,” said Timothy Fennell, chief executive at Tanganda.

“It speaks to our shared vision to be the leading blue-chip agricultural company in Africa.

“In this regard, the business has made its mission to build a highly cohesive management team and systems, build towards preferred, iconic and high-quality brands, maintain high moral responsibility to its staff, community and the environment, pay a consistent and growing dividend to shareholders and benchmark itself against the top 20 African agribusiness companies,” Fennell said.

Tanganda has transformed itself over the years from a tea business to a diversified agricultural export business, making it an attractive investment.

It now comprises five estates namely, New Year’s Gift, Ratelshoek, Jersey, Zona and Tingamira (formerly Avontuur/Petrunella).

The company has expanded into macadamia and avocado farming, coffee production and spring water bottling.-newsday