TN Holdings has invested about $3 million in building a new factory for Mahewu and Mr Juicy as the diversified group seeks to grow its market in the beverages sector.
BY FREEMAN MAKOPA
The group’s founder Tawanda Nyambirai told NewsDay in emailed responses on Tuesday that the Mahewu and Mr Juicy sections would be complete by the end of the year.
“It’s a family investment and I am quite sure that the Mahewu section of the new factory will be completed by end of August. The Mr Juicy section will open three months later,” he said.
Nyambirai said the new factory will have the capacity to produce over three million litres of Mahewu per month.
“This is a huge investment. We hope to finish the year as the leader in the Mahewu sub-sector. We shall be moving from Southerton (Harare) to our new factory at Lot 30 of Marvel Estate, Domboshava road,” Nyambirai said.
The lawyer-cum businessman ventured into the corporate world in 2001 when he founded TN Financial Holdings Limited, a financial services group that included TN Asset Management, TN Financial Services, TN Medical Benefit Funds and TN Bank.
In 2009, Nyambirai led the reverse takeover by TN Financial Holdings Limited of Tedco Limited, a company listed on the Zimbabwe Stock Exchange since 1973 and which was the leading furniture manufacturer and retailer in Zimbabwe. Consequently, Tedco Limited changed its name to TN Holdings Limited.
Nyambirai exited TN Bank in 2012 following its takeover by Econet Wireless. The bank was rebranded to Steward Bank.