Tanganda Tea Company treks to VFEX, plans to raise US$7 million.

Tanganda Tea Company, a major Zimbabwean beverage producer, is planning to migrate its listing to the Victoria Falls Stock Exchange (VFEX) and raise US$7.7 million through a rights offer. The company, known for producing tea, coffee, avocados, macadamia nuts, and spring water, aims to diversify its market and increase exports. Despite some challenges in production and export volumes, Tanganda's financial performance remains stable, with revenue in line with previous years and a slight decline in profit after tax. The move to VFEX reflects a growing trend of companies listing on the US dollar-denominated exchange for new opportunities and growth. [Extracted from the article]