Tanganda’s bid to raise US$8 million capital reaches approval stage
Tanganda Tea Company’s bid to raise capital has reached the approval stage, with key stakeholders set to approve of the decision this week. The Zimbabwe Stock Exchange (ZSE) listed company is pursuing its proposed US$8 million capital raise through a rights offer and is finalising a circular to shareholders. “The proposed capital raise by way […] The post Tanganda’s bid to raise US$8 million capital reaches approval stage appeared first on NewZimbabwe.com.
Black News 
Tanganda Tea Company’s bid to raise capital has reached the approval stage, with key stakeholders set to approve of the decision this week.
The Zimbabwe Stock Exchange (ZSE) listed company is pursuing its proposed US$8 million capital raise through a rights offer and is finalising a circular to shareholders.
“The proposed capital raise by way of a Renounceable Rights Offer to raise US$8 million is progressing well. An Extraordinary General Meeting of members to consider and approve the transaction is scheduled for February 18 2026,” said the company in this week’s Trading Update.
The capital raise is by way of a renounceable rights offer, with Rutanhi Beverages, a subsidiary of Innscor Africa Limited, which is acting as the underwriter in a development which could significantly increase Rutanhi’s control over the firm.
In the first quarter period ended December 2025, Tanganda reported a solid start to its financial year, with revenue for the first quarter growing by 5% to US$4,65 million, up from US$ 4,44 million in the corresponding period last year.
The company significantly narrowed its pre-tax loss, posting a loss of USD 538,497, which marks a substantial improvement from the prior year’s loss of USD 853,917, demonstrating enhanced operational efficiency.
Bulk tea production volumes for the quarter increased by 5% to 1,530 tons, driven by the early onset of rains. Consequently, bulk tea export volumes saw a 3% rise to 1,170 tons. Packed tea sales volumes recorded remarkable growth, surging by 37% to 453 tons. The company noted that the avocado and macadamia harvest is set to begin in the second quarter.
“Looking ahead, the outlook is cautiously positive, with a projected national economic growth of 6.6%, supported by resilient performance across key sectors. Management expects inflation to continue moderating under prudent fiscal policy. The company has implemented mitigating strategies to address operational challenges and enhance business resilience,” added Tanganda.
The post Tanganda’s bid to raise US$8 million capital reaches approval stage appeared first on NewZimbabwe.com.
