• Fri. Apr 19th, 2024

Tinga Mira expects uptick in sales volumes

ByETimes

Mar 13, 2024 #Tinga Mira

By Stephen Chandisareva

HARARE – Tinga Mira sales volumes are poised to rise after its parent company, Tanganda Tea, resolved issues relating to the supply of packaging materials and the upgrading of the capacity of the water bottling facility.

In addition to producing Tinga Mira bottled spring water, Tanganda Tea Company is Zimbabwe’s leading distributor of bulk and packaged tea.

“Demand for the Tinga Mira water remains strong on the market,” Tanganda Tea Company said in its 2023 annual report.

“Sales volumes declined by close to 50% as a result of constrained product supply due to cash flow prioritisation and challenges encountered in the bottling line.”

Water bottling commenced at Tingamira Estate in 2006.

The agro-allied company operates as a wholly-owned subsidiary of Meikles Limited, a leading conglomerate controlled by Zimbabwean businessman John Moxon.

The conglomerate maintains a diverse portfolio of investments in hospitality, retail, supermarkets, agriculture and financial services.

Tanganda’s share price stood at $1,950.05 with a market capitalisation of $509 billion.

By ETimes

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