TSL Limited

TSL Limited (formerly Tobacco Sales Ltd) was founded in 1957 as a tobacco auction house in Harare and diversified from the late 1960s into logistics and agronomy, under the tagline "Moving Value Chains Since 1957." TSL migrated its listing from the Zimbabwe Stock Exchange to the Victoria Falls Stock Exchange in June 2026, becoming the 20th company listed on VFEX. Shareholders approved the migration at an EGM/AGM on 19 June 2026, with ZSE delisting effective 26 June, VFEX listing on 29 June, and trading commencing 30 June 2026; the move was driven by TSL's desire to access deeper foreign-currency capital pools and align its market valuation with its earnings profile, more than 97% of which is US dollar-denominated. The simultaneous delisting of TSL and First Mutual Properties removed over US$113 million from the ZSE's local-currency market capitalisation.

Corporate structure

TSL's core activities span tobacco auctioning, printing and packaging, supply of agricultural inputs, storage and distribution, and related services, positioning the company across the agricultural value chain "from seed to shelf." The company holds an increasing stake in Agricor. It is governed by a Board of Directors chaired on a non-executive basis, with an executive team led by the Chief Executive Officer.