Tanganda maintains focus on value addition

TANGANDA Tea Company (Tanganda) says it remains focused on its strategic value addition thrust despite challenges in the operating environment pushed by both local and external factors.
The diversified group’s chairman, Herbert Nkala, said Tanganda would also focus on cost management to mitigate pressures on profit margins.
“The first half of the financial year was volatile, characterised by currency instability, which increased upward inflationary pressures due to the adverse impact from the pass-through effect of exchange rate depreciation.
“In addition, climatic changes and deepened electricity shortages further weighed down economic activity over the reporting period,” Nkala said in a statement accompanying the company’s financial statements for the six months ended March 31, 2023.
“On the global markets, continued geopolitical tensions, disruptions to supply chain and trade fragmentation resulted in significant slowdown of economic growth.”