Harare – ZSE listed agro industrial group TSL said it has completed a review of its operations for a period of 5 years up to 2023, charging that its renewed purpose was to “move agriculture” by bringing efficiencies to agricultural supply chains.
While presenting a set of strong financials for the year ended 31 October and on the outlook segment, TSL said it will work closely with producers and processors of agro-commodities.
TSL is involved in agriculture value chain through provision of transport and warehouse, chemicals packaging and marketing services.
“We will work closely with producers and processors of agro-commodities to ensure that they can get the requisite inputs, commodity exchange services and end-to-end logistic solutions at a price and in a manner that allows them to compete locally and regionally.
“As we embark on this growth journey we will be investing in our people, upgrading our infrastructure and market presence, developing our technology platforms and leveraging on our local and international partnerships.” Said Group FD Odoteye.
He said going forward the generation of foreign currency remain a priority for the Group and all its business units are taking advantage of the available local and regional opportunities.
He said the Group’s growth will be largely organic, however actively seeking acquisitive opportunities that will complement TSL’s defined strategy.
In tobacco related services, Odotoye said TSL’s emphasis remains on growing its share of both the independent and contracted crop and the business is considering proposals to invest in other agro-packaging solutions for the market.
In the period under review, Agricura (Private) Limited invested in new machinery to automate the powder chemicals production factory and more equipment and machinery will be undertaken in 2019 to improve efficiencies and product competitiveness.
On farming operations TSL said the mix will remain largely unchanged being tobacco, soyas, wheat, commercial maize and bananas, expanding farm produce for exports.
On its logistic operations, the Group said Bak Logistics is actively expanding its customer base and its efficiencies in handling of various commodities and is investing in increasing its forklift capacity to support the movement of agro-commodities and bulk minerals.
– Equity Axis News