TANG - Tanganda Tea Company

Apr 23, 2024 at 13:54 Twitter · Facebook

TANG share price on Zimbabwe Stock Exchange

Tanganda Tea Company Limited is the largest producer, packer, and distributor of tea in Zimbabwe. The first commercial tea was planted at New Year’s Gift Estate in 1924. Tanganda, to date, has also developed the largest hectarage of both macadamia nuts and avocados to become the single largest producer of both crops in Zimbabwe. The company is also involved in coffee production and spring water bottling.

Tanganda Tea Company is divided into three operating divisions, namely, Agriculture, Beverage, and Corporate and Administration divisions.

1. The Agriculture Division is based in Chipinge and consists of five estates inter-cropped with tea, coffee, avocados and macadamia nuts. The division has an active out-grower scheme supporting tea farmers covering about 1,000 hectares of land.
2. The Beverage Division is focused on creating and developing brands mainly from but not limited to the primary agricultural products and consists of a blending and packaging plant in Mutare with sales and distribution depots in Harare, Bulawayo, Gweru, and Mutare. The division’s market is mainly local but has a growing export market into the region. New consumer products and services development is a key focus for the division.
3. The Corporate and Administration Division is responsible for administration and support services for the Agriculture and Beverage divisions.

Tanganda Tea Company is listed on the Zimbabwe Stock Exchange (ZSE) since February 3rd, 2022. Tanganda Tea is traded on the ZSE under the ticker symbol “TANG”. The International Securities Identification Number (ISIN) of ZSE:TANG is ZW0009012411. Tanganda Tea Company is currently the 12th most valuable stock on the ZSE with a market capitalization of ZiG 527 million, which is about 1.93% of the Zimbabwe Stock Exchange equity market.

TANG Stock Market Performance

The current share price of Tanganda Tea Company (TANG) is ZiG 2.0195. TANG closed its last trading day (Friday, April 19, 2024) at 2.0195 ZiG per share on the Zimbabwe Stock Exchange (ZSE), recording a 2.4% drop from its previous closing price of 2.0695 ZiG. Tanganda Tea began the year with a share price of 0.382995 ZiG and has since gained 427% on that price valuation, ranking it eighth on the ZSE in terms of year-to-date performance. Shareholders can be optimistic about TANG knowing the stock has accrued 30% over the past four-week period alone—17th best on ZSE.

Tanganda Tea Company is the 19th most traded stock on the Zimbabwe Stock Exchange over the past three months (Jan 22 - Apr 23, 2024). TANG has traded a total volume of 1.17 million shares valued at ZiG 1.53 million over the period, with an average of 18,617 traded shares per session. A volume high of 155,800 was achieved on January 29th for the same period. The table below details the last 10 trading days of activity of Tanganda Tea on the Zimbabwe Stock Exchange.

Profile of Tanganda Tea Company Limited

Tanganda Tea Company Limited was founded on April 4, 1930 and operates in the Consumer Goods sector, specifically, the Food Production industry.

TANG Industrial Market Competitors

Tanganda Tea Company Limited, issuers of the TANG stock on the Zimbabwe Stock Exchange, have a number of market competitors who are also engaged in the Consumer Goods sector and/or Food Production industry. The table below presents an overview of the market standing of the top nine by year-to-date performance.

Index of African Stock Exchanges:

1. Botswana Stock Exchange
2. BRVM Stock Exchange
3. Ghana Stock Exchange
4. Johannesburg Stock Exchange
5. Lusaka Securities Exchange
6. Malawi Stock Exchange
7. Nairobi Securities Exchange
8. Nigerian Stock Exchange
9. Uganda Securities Exchange
10. Zimbabwe Stock Exchange