- Tanganda Tea partners with Global Trade-Link BV to open an avocado oil extraction plant at Tingamira Estate
- The plant began operating in May 2025
- The company’s revenue decreased by 27% to US$8 million, with profit after tax dropping 73% to US$539,983
Harare-Tanganda Tea, a company listed on the Zimbabwe Stock Exchange, has partnered with Global Trade-Link BV, a consultancy from the Netherlands, to open an avocado oil extraction plant at its Tingamira Estate, which began operating in May 2025 according to the company’s latest half year (HY) 25 financial statement.
This joint venture harnesses Trade Link’s expertise in market entry and corporate strategy to propel Tanganda’s avocado oil into European markets, marking a significant step toward strengthening its export-driven growth.
The collaboration enables Tanganda to process smaller, unsaleable avocado grades into premium oil, tapping into growing global demand for edible oils.
This aligns with Tanganda’s broader strategy to bolster foreign exchange earnings, which account for 72% of its revenue, through high-value exports.
Tanganda, produces tea, coffee, macadamia nuts, avocados, and bottled water under the Tingamira brand.
The avocado oil plant, supported by a 1,200-megalitre dam at Tingamira, builds on an 84% surge in avocado production to 3,976 tonnes in FY2024, positioning Tanganda to capture premium markets.
However, the period under review was challenging with tea, Tanganda’s flagship product, suffering from late rains that reduced production quality by 6%.
Bulk tea exports fell 28% to 2,174 tonnes from 3,005 tonnes, with Kenya’s oversupply driving export prices down 4% to $1.29 per kg from $1.35.
Packed tea sales in the beverage segment dropped 18% to 705 tonnes from 864 tonnes, as informal markets disrupted formal retail channels, where Tanganda’s customer base is concentrated.
In the coffee segment , aging plants, scheduled uprooting, and adverse weather slashed exports to 13 tonnes from 58 tonnes. A 60-hectare coffee plantation under a separate joint venture with a Zimbabwean third-party farm is maturing, promising a rebound, with most output marketed under a Nespresso contract.
The macadamia nut segment showed resilience, delayed 286-tonne consignment from the prior year was shipped in the first quarter, and late harvests from Tanganda’s 894 hectares of plantations signal growth potential as global prices firm.
Financially, Tanganda’s revenue slid 27% to US$8 million from US$11 million.
Profit after tax cratered 73% to US$539,983 from US$2 million, despite $2.9 million in fair value gains on biological assets and fruit on bearer plants.
Looking ahead, the company maintains a pessimistic outlook due to ongoing inflationary pressures and the rapid depreciation of the local currency. Nevertheless, the company intends to implement mitigatory measures such as value addition and efficient cost management to address these challenges.
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