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Wednesday, 20 April 2016

Eastern Company looking to expand into Tanzania, Zimbabwe, pushes for domestically grown tobacco

Eastern Company is looking to expand its exports into Tanzania and Zimbabwe as part of an overall strategy to boost exports and strengthen USD resources, said Chairman Mohamed Haroun, reports Al Borsa. Eastern Company is aiming for EGP 75 mn in FY 2016/17, up from EGP 70 mn in FY 2015/16, he added. The company will export 348 mn cigarettes and 1,656 tonnes of shisha molasses to Tanzania and Zimbabwe and will import tobacco in return, he added. The company’s EGM has advised the board to continue pushing for domestically grown tobacco, Al Mal reports.

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