Tanganda Tea Company Limited has added US$42,4 million to its market capitalisation, more than quadrupling its previous value since Innscor Africa Limited emerged as its second-largest shareholder through a beverage investment vehicle.
Based on statistics from the Zimbabwe Stock Exchange (ZSE), Tanganda had a market value equivalent to US$12,68 million on the bourse as of the end of March.
However, by the end of April, after Innscor’s beverage investment vehicle, Rutanhi Beverages Limited, secured a 27,32% stake in Tanganda to become the second-largest shareholder, the tea company’s valuation rose to US$39,6 million.
In the first 12 days of May, Tanganda’s market capitalisation on the ZSE grew further to reach US$55,08 million, adding another US$15,48 million.
The jump in market cap comes as Tanganda disclosed a US$6,36 million cash deficit and US$7,1 million in bank borrowings in January, warning that failure to cover these gaps could weigh on production and debt servicing.
Since Econet Wireless Zimbabwe departed from the ZSE in March, investors have been looking to invest in other reliable counters on the bourse.
“The ZSE remains functional but thinner without Econet. Regaining institutional confidence will require either new quality listings or a clear improvement in earnings from the remaining counters. Currency stability remains a solid foundation, but the exchange must now rebuild its trading depth,” FBC Securities said in its April 2026 market report.
“The inflationary drift, while still modest, bears watching, particularly if Middle East tensions persist and keep oil prices elevated. For now, the ZSE offers positive real returns (31% YTD gain versus 1,8% inflation between Jan-April 2026), but the volume contraction signals that investors are adopting a wait-and-see posture.”
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
The ZSE All Share Index advanced 1,85% during April, closing at 365,17 points.
“This lifted year-to-date returns to 31,42%, underscoring that despite headwinds, the equity market has delivered solid positive performance through the first four months of the year,” FBC Securities said.
ZSE cumulative turnover collapsed 84% in April to ZiG511 million, down from ZiG3,14 billion in March. The primary reason is structural rather than behavioural: Econet Wireless Zimbabwe delisted on 31 March 2026, removing the exchange’s most actively traded counter.
However, without it, FBC Securities warned, the remaining stocks cannot generate comparable turnover.
“This has cooled general trading activity across the ZSE as investors wait to see whether other companies will follow the same path,” FBC Securities said.
FBC Securities noted that a stable official exchange rate provided value support to ZSE counters.
“The alternative rate remained at ZiG32, keeping the premium steady at 26% -27%,” FBC Securities said.
“This tight band, maintained since September 2024, continues to provide the predictability that allows company fundamentals to drive share prices.
