Tanganda Tea Company Returns to the Zimbabwe Stock Exchange

Tanganda Tea Company Limited returned to the Zimbabwe Stock Exchange (ZSE) bourse, on 3 February 2022, as a much stronger enterprise after investment in a diversified portfolio of tea itself, macadamia, avocados, coffee and tinga mira spring water. The table below shows the significant differences between the Tanganda that was delisted in 2008 and the Tanganda listed on 3 February 2022.

Annual Tanganda sales volumes in 2021 compared to 2006

Product

2006

2021

Bulk tea exports (tonnes)

4 649

6 392

Packed tea sales (tonnes)

2 191

2 191

Macadamia nuts (tonnes)

800

Avocados (tonnes)

3 152

Coffee (tonnes)

136

84

tinga mira spring water (litres)

23 562

2 914 944

Tanganda was initially listed in 1963 and remained listed for forty-five years from 1963-2008. The company voluntarily delisted from the Zimbabwe Stock Exchange in 2008 following the merger with other entities into Kingdom Meikles Africa Limited (KMAL). Subsequently KMAL demerged in 2011 with Tanganda remaining a wholly owned subsidiary of Meikles Limited.

The 3rd of February 2022 marks a historic day as Meikles Limited unbundled Tanganda which relisted separately on the Zimbabwe Stock Exchange.

Author

Jay Matanda