The fast expanding diversified empire has also jumped into the supermarket sector and selling groceries to clients.
"TN is getting into almost everything in Zimbabwe," a stock market analyst said in an interview.
"This group is taking Zimbabwe by storm and it is going where cash is aplenty. they have also said they intend to get into the cattle industry with their Cattle Bank."
TNFH was voted into the top three firms operating on the Zimbabwe Stock Exchange (ZSE) last year, having made a percentage change of 418,18 percent.
The share price has jumped from 3c to 10c today. However, leading stock market analysts, Imara Edwards Securities (Private) Limited (Imara) says investors must sell their stock in the diversified company.
"We are wary of the aggressive accounting treatment of the income stream at TNFH," Imara said in a market commentary.
"Investors must either sell or take profit." TNFH has already said it would soon begin operating a cattle bank, the first in Zimbabwe.
Patricia Chizengena, Head of the Project, said the Cattle Bank would operate under the TN Bank Limited, a major subsidiary of the Group.
"The Cattle Bank will set up farms which will be used as the TN Bank livestock bank," Chizengeya said in Harare.
"Farmers will be able to use their cattle as deposit and security when opening or depositing in their accounts at TN. They can also use them as loans costing about US$400 per cow."
She said the Cattle Bank was currently targeting Masvingo Province, Matabeleland North Province, Matabeleland South Province and the Midlands Province, which have huge amounts of cattle.
"THe Cattle Bank should be managed just like a commercial bank with a fully fledged Executive Committee," Chizengeya said.
"It will help improve productivity of cattle in the rural areas as well as include them in our economy. It is sort of an insurance against loss of livestock in the rural and communal areas."
She said the Cattle Bank would have breeding programmes and create deposits to increase funding for expansion programmes.
"It will help incentivise investment in livestock given the liquidity conferred by bankability," she said. "It will also bring rural players into the national economy.
TN Bank Limited is owned by prominent lawyer and due diligence expert, Tawanda Nyambirai. Last year at TN profit after tax for the year rose by 308 percent to US$3,58 million froma loss of US$1,72 million for 2010.
TN Bank Limited's total income, on the other hand, rose by 64 percent to US$13,92 million, from the previous year's US$8,49 million.
TN Bank posted a profit before tax of US$1,59 million, up from US$1,39 million the previous year.
The commercial bank, in its third year of operation, increased its nationwide presence and by year-end, was serving its customers from 27 fully fledged branches.
TN Financial Holdings Limited, the holding company of TN Bank Limited, is listed on the Zimbabwe Stock Exchange (ZSE). It has a market capitalisation of US29,958,090. The TN share price currently stands at 10c.Post published in: Business