Zimbabwe Tea producer Tanganda to relist on ZSE after 14-year hiatus

ZIMBABWE – Zimbabwean dominant conglomerate Meikles Limited, is seeking to unbundle its agro-business operation, Tanganda Tea Company Limited and separately re-list it on the Zimbabwe Stock Exchange (ZSE). The relisting of the country’s largest producer, packer and distributor of tea comes 14 years after it voluntarily delisted from the ZSE in 2007, following the merger of its parent company and Kingdom Bank to form Kindom Meikles. The merger only lasted for barely 3 years as both businesses went separate ways in 2010. The blue-chip company has indicated that Tanganda’s listing…

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Zimbabwe Tea producer Tanganda invests US$15m in solar power plant

ZIMBABWE – Zimbabwe’s largest grower and producer of tea and coffee, Tanganda Tea Company Limited is set to complete the construction of US$15m solar plant to power its production facilities. Tanganda Tea, a subsidiary of Meikles Limited, specializes in production and packaging of tea and coffee both for the domestic and foreign markets. The company also exports macadamia and avocado. According to reports by Business Times, the plant is scheduled to be completed by December this year and is targeted to produce 7.55 megawatts. Zimbabwe has been battling power shortages…

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Tanganda Tea reports decline in production amidst challenging operating environment

ZIMBABWE – Zimbabwe’s largest grower and producer of tea and coffee, Tanganda Tea Company Limited – a subsidiary of Meikles Limited – reported a decline in bulk tea production during the third quarter and nine months to December 31, 2019 due to erratic power supplies that affected irrigation schemes. The country has been experiencing electric shortages that have had a knock-on effect on industry, contributing to high overheads as well as reduced production time. For Tanganda, poor electricity supplies caused severe interruptions to irrigation systems as well as factory operating…

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