Tanganda grows coffee business

TANGANDA Tea Company (Tanganda) says it is targeting joint ventures with medium scale farmers to boost coffee production, among a number of strategies, as it strengthens its diversification drive.
The company relisted on the Zimbabwe Stock Exchange this February as part of Meikles’ unbundling in the form of a demerger of the assets and liabilities of Tanganda, by way of a dividend in specie (a non-cash disbursement).

The unbundling, which is also part of a wider group reorganisation, is expected to unlock significant value for shareholders.
“On coffee, we are producing approximately 120 tonnes and the bulk of it is being sold through the Nespresso contract with the balance being roasted for the local market and sold through the High Country coffee brand via the beverages division,” Tanganda finance director Henry Nemaire told The Financial Gazette thi