Tanganda Tea Company Limited has announced significant changes to its Board of Directors and a challenging financial performance for the year ended September 30, 2025.
In a notice of the company’s 96th Annual General Meeting (AGM) scheduled for March 27, 2026, the agro-industrial group revealed the impending departure of three veteran board members.
Chairman Herbert Nkala and director Simon James Hammond are both scheduled to retire by rotation and have opted not to seek re-election. Additionally, Livingstone Takudzwa Gwata has tendered his resignation, which will take effect at the conclusion of the upcoming meeting.
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The board transition comes as the company navigates a period of financial strain. Shareholders will be asked at the AGM to confirm a directors' resolution to skip dividend payments for the 2025 financial year, citing a loss incurred during the period.
Despite the reported loss, the company has put forward a resolution to confirm directors' fees totaling USD 178,400 for the 2025 financial year. This proposal is set to be presented alongside a request for the approval of USD 139,812 in auditors' fees.
The meeting, which will be held both at Sabre Business World in Harare and virtually, marks a pivotal moment for the tea producer as it seeks to address its current financial deficit and transition to new leadership.
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