TN Holdings’ beverages unit has invested close to $1,5 million into new plant and equipment as it seeks to increase production and subsequently market share for its products, Mr Juicy and Mahewu Premier Plus. TN Holdings founder Tawanda Nyambirai said the company is looking at expanding its footprint in the beverages sector.
TN Beverages was acquired for over $1 million by the commercial lawyer and a considerable investment has since been made to improve operations.
Mr Nyambirai 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.
“I bought the company for approximately $1,2 million and I have since invested in a completely new processing plant both on the juice side and the mahewu side.
“The total investment into new equipment is approximately $1,5 million.
“I have built a new plant in Glen Forest and that is going to be the new home for Premier Plus mahewu. We believe that in less than three months we should have opened it,” said Mr Nyambirai.
TN beverages marketing executive Learnmore Mupfeki said the company is eyeing improved market share going into the future.
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.
The group had a unique banking model that leveraged on retail businesses, technology, and people skills as channels through which it delivered banking convenience to its customers.
The company also ventured into fast food business through its TN Grill brand.