Company Overview
Stock & Finance
Our Vision

To create value through the provision of high quality consumer and durable goods in Zimbabwe and the Region.

Our Mission

To sustainably and profitably distribute, market, merchandise and retail leading consumer and durable goods, thereby growing stakeholder value.

To enable easier access to high quality consumer and durable goods at reasonable prices to our customers.

Company Overview

Axia Corporation Limited (Axia) was incorporated on 24 February 2016 and on 1 April 2016 acquired, through a scheme of reconstruction, the net assets of Innscor Africa Limited's Speciality Retail and Distribution business, in exchange for 541 593 440 shares in Axia. A new head office structure for Axia was established with effect from 1 April 2016 to monitor and support the operations of Axia's subsidiary companies. Axia listed on the Zimbabwe Stock Exchange on 17 May 2016. Following it's unbundling from Innscor Africa Limited. Axia adopted 30 June as its financial year end.


Axia Corporation Limited operates within the speciality retail and distribution sector. It has three operating business units, namely TV Sales & Home (TVSH), Transerv and Distribution Group Africa (DGA). TVSH is a leading furniture and electronic appliance retailer with sites located countrywide. Transerv retails automotive spares, by utilising multiple channels to service the needs of its customers countrywide. The business operates through a network of its homegrown branded Transerv retail branches and fitment centres. DGA is a large and successful distribution and logistics concern, with operations in Zimbabwe, Zambia and Malawi. Its core areas of expertise lie in inbound clearing and bonded warehousing, ambient and chilled/frozen warehousing, logistics, marketing, sales and merchandising services.



Integrity, Fairness, Entrepreneurship, Quality, Accountability, Teamwork




Axia is a Greek word meaning "value" or "worth", both of which are fundamental Group aspirations.  Axia's logo is a fresh prismatic amalgamation of the primary colours of its three founding constituent subsidiaries with the Red of TV Sales & Home merging into the Green of Transerv which in turn flows into the Blue of DGA.  Together these colours form a cohesive and distinctive brand identity.




Innscor's Speciality Retail and Distribution Business consists of three main operations:

Distribution Group Africa – A business established by Innscor in 1999, in which a 50.01% stake is retained

TV Sales & Home – A company established in 1968, in which a 66.67% stake is retained.

Transerv – Established in 2002, Innscor acquired an effective 26.01% shareholding in the business in July 2015.


At a meeting of the Board of Directors of Innscor, held on the 20th of November 2015, a decision was taken approving the Unbundling and Listing of the Speciality Retail and Distribution Business as part of tits continue strategy to focus on core activities and to allow the speciality Retail and Distribution Business to benefit from specific focus.  The proposed Unbundling, which is subject to the approval of the shareholders of Innscor, will be effected through a distribution of the entire issued share capital of Axia to the shareholders of Innscor registered as such at the end of business on the 6th of May 2016 through a Dividend in Specie.  The Dividend in Specie of shares in Axia to Innscor shareholders registered as scuh on the Record Date, shall be on the basis of one (1) ordinary share in Axia for every one (1) existing Innscor ordinary share held.  The Directors also agreed to seek a Listing of the Company on the ZSE by way of introduction.


On the 24th of February 2016 Axia was incorporated as a wholly owned subsidiary of Innscor.  Effective on the 1st of April 2016 Axia acquired through a scheme of reconstruction, in accordance with the Agreement, the issued share capital of the companies comprising the Speciality Retail and Distribution Business together with relevant subsidiaries from Innscor in exchange for 541,593,440 shares in the Company.

Axia Annual Report 2016 Axia Annual Report 2017 Axia Annual Report 2018 Axia Annual Report 2019 Axia Annual Report 2020 Annual Report - 30 June 2021 Axia Notice of AGM 2016 Axia Notice of AGM 2017 Axia Notice of AGM 2018 Axia Interim Dividend Announcement - March 2019 Axia Notice of AGM 2019 Axia AGM Results Notice 2019 Axia AGM Results Notice 2022 Axia April 2020 - Interim Dividend Payment Delay Notice Axia Notice of AGM 2020 Axia Proxy and Change of Address Form 2020 Axia Notice of AGM 2022 Notice of Retirement and Executive Appointment Axia Annual Report 2022 Axia Abridged Circular to Shareholders Condolence Message - John Koumides Notice - Delay in Publishing 2023 Financial Results Axia Annual Report 2023 Axia Notice of AGM 2023 Axia AGM Results Notice 2023 AXIA - Notice to the Members - Appointment of Finance Director Axia Presentation YE 30 Jun 2020 Axia Presentation YE 30 Jun 2017 Axia Presentation HY 31 Dec 2017 Axia Presentation YE 30 Jun 2018 Axia Presentation YE 30 June 2019 Axia Presentation - HY 31 December 2023 Axia Financial Results 31 Dec 2019 Axia Financial Results 30 Jun 2016 Axia Financial Results 31 Dec 2016 Axia Financial Results 30 Jun 2017 Axia Financial Results 31 Dec 2017 Axia Financial Results 30 Jun 2018 Axia Financial Results 31 Dec 2018 Axia Financial Results 30 June 2019 Axia Financial Results - 30 June 2020 Axia Short-Form Financial Results 31 Dec 2020 Axia Financial Results 31 Dec 2020 Axia Short-Form Financial Results 31 Dec 2021 Axia Financial Results - 30 June 2021 Axia Financial Results 30 June 2022 Axia Financial Results 31 December 2021 Axia Short Form Financial Results - 30 June 2023 Axia Financial Results - 30 June 2023 Axia Financial Results 31 December 2022 Axia Short-Form Financial Announcement - 31 December 2022 Axia Financial Results - 31 December 2023 Axia Short-form Financial Results - 31 December 2023 Q1 F2024 Trading Update Q1 FY20 Trading Update Q3 F2020 Trading Update Axia Q1 FY2021 Trading Update Q3 FY2021 Trading Update Q1 F2022 Trading Update Q3 FY2022 Trading Update Q1 FY2023 Trading Update Q3 FY2023 Trading Update Q3 F2024 Trading Update
Corporate Information


The Company is incorporated and domiciled in Zimbabwe

Core Business

Speciality Retail and Distribution

Registered Office

Axia Corporation Limited, Edward Building
1st Street/Nelson Mandela Avenue, Harare, Zimbabwe

Company Secretary

Prometheus Corporate Services (Private) Limited
12 Cuba Avenue, Mount Pleasant, Harare, Zimbabwe

Physical/Postal Address

8 Cambridge Avenue, Newlands, Harare, Zimbabwe


Deloitte and Touche, West Block, Borrowdale Office Park
Borrowdale Road, Borrowdale, Harare

Legal Advisors

Lunga Attorneys 
12 Cuba Avenue, Mt Pleasant, Harare, Zimbabwe

Principal Bankers

Barclays, CABS, Stanbic, Standard Chartered

Board of Directors
  • Luke Ngwerume (Chairman)
  • Ray Rambanapasi
  • Zinona (Zed) Koudounaris
  • Thembiwe Mazingi
  • Thembinkosi (Themba) Sibanda

View Board of Directors

Group Executives
  • Ray Rambanapasi (Group Chief Executive Officer)
Divisional Managers


Sean Gorringe (Chief Executive Officer)

Joseph Kamasho (Financial Director)


Llyod Mugabe (Managing Director)



Craig Hodgson (Chief Executive Officer)

Vengai Mugabe (Finance Director)



Innscor Distribution Zimbabwe

Craig Hodgson (CEO) Innscor Distribution Zimbabwe

Vengai Mugabe (FD) Innscor Distribution Zimbabwe

Archie Meth (MD) (Comox Trading)

Neil Varrie (MD) (Eagle Agencies)

Emeldar Gondo (MD) (Snacks Sales & Distribution)

Mani Lane (MD) (Freshpro)

Rick Foden (MD) (Innscor & Comox Zambia)

Kennedy Muchenga (MD) (Innscor & Comox Malawi)

Our Companies

TV Sales & Home Company Overview

Launched in 1968 the company originally became a household name as TV Sales & Hire. In the early days, the business model was to sell electronic appliances on credit via its 'hire to buy' scheme as well as leasing appliances to customers who never intended owning the product.

In the 2000's as the sourcing of product improved, the brand was re-invented and it soon became known as the leader in quality branded electronics in Zimbabwe. After the years of hyperinflation and price controls (2008/9), there was further rebranding to show the market that the company had expanded further into furniture and no longer hired out electronic products and thus the company became known as TV Sales & Home. Today TV Sales & Home is a leading furniture and electronic retailer in Zimbabwe with 49 retail sites totalling 29,279m2 located countrywide and has a staff complement of 176.

The company maintains strong long term partnerships with many key suppliers to ensure quality products. Some of these partnerships include: Alpine Lounge, Calgan Lounge, Flair International, KIC/Whirlpool, Defy, Sony, Samsung, La-z-Boy, and Serta Bedding.



Sean Gorringe Chief Executive Officer

Joseph Kamasho Financial Director

Robert Merdjan Operations Executive

Phillip Makuyana Warehouse and Logistics Executive

Graham Gaylard Executive Consultant

Jane Witz Marketing Consultant


TV Sales and Home, 1st Floor Edward Building,
Cnr 1st Street and Nelson Mandela, Harare, Zimbabwe

Tel: +263 24 2750420 | +263 24 2757894 | +2632 4 2751348

Email:   Website:

Transerv Company Overview

Transerv was established in 2002 initially as a cross border transport company also importing automotive spares for light vehicle workshops. Transerv capitalised on a niche market opportunity that arose in the spares wholesale market supplying larger operators with fast moving stock. Following Zimbabwe's dollarization in 2009, the wholesale market became more competitive and a decision was taken to expand into the retail space with the first retail branch opened in Graniteside in May 2009.

Today, Transerv employs 319 people and utilises multiple retail channels to service the needs of its customers countrywide, operating through a network of 25 of its homegrown branded Transerv retail branches. Three of these Transerv retail branches were formerly franchised Midas stores. The retail network operates a total of 8,290m2 in space.

In addition, Transerv Fitment Center was launched as a complementary brand to offer customers a venue to fit their tyres, batteries and suspension, etc bought at Transerv. There are now 15 Transerv fitment centres operating from a total of 5,050m2 spread across the country. The company also operates specialist automotive businesses, namely Transerv Clutch and Brake (formerly Clutch & Brake Specialists (CBS), Transerv Diesel Services (formerly ADCO) and Transerv Auto Cycle Centre.

All these businesses are controlled and supported from Transerv Head Office.



Ilonka Bekker Managing Director

Lloyd Mugabe General Manager

Gibson Watikani Business Development Manager

Faith Manikai Finance Manager

Blessing Ndenguma Operations Manager

Shane Zangel Head Fitment Centres


No.118 Simon Mazorodze Rd, Southerton, Harare, Zimbabwe

Tel: +263 24 2669733 | +263 24 2669734 | +263 24 2660328

Email: Website:

DGA Company Overview

DGA was established in 1999 by Innscor and has grown to become one of the largest and most successful distribution businesses in Zimbabwe, Zambia and Malawi. The business has exclusive relationships with many blue chip brands including Colgate Palmolive, Pepsi, Johnson & Johnson, Tiger Brands, Unilever, Eveready, AVI International and Reckitt Benckiser. It also counts amongst its principals Kelloggs, 3M, Rhodes Foods and Philips Electrical, to name a few.

The business boasts world class warehousing capability and vehicle fleets. It is equally proficient in both ambient and chilled/frozen logistics and warehousing. The core areas of expertise lie in inbound clearing and bonded warehousing, ambient and chilled/frozen warehousing, full national logistics in all three countries, and marketing, sales and merchandising services.

DGA owns two warehouses measuring 10,000m2 and leases three warehouses measuring 16,182m2 and has a fleet of 76 vehicles with varying carrying capacities of up to 40 tonnes each. The company employs a total 1,295 staff with 1,045 in Zimbabwe, 162 in Zambia and 88 in Malawi respectively. Included in these workforces are merchandisers numbering 501 in Zimbabwe, 91 in Zambia and 40 in Malawi.

Having won numerous All Africa Awards for being one of the top distributors in Africa, DGA is well positioned for continued profitable long term growth



Craig Hodgson Managing Director

Vengai Mugabe Finance Director

Archie Meth MD (Comox Trading)

John Economou MD (Freshpro)

Vitalis Savanhu GM (Vital Logistics)

Seko Mwayungwi MD (Innscor Distribution & Comox Zambia)

Kennedy Muchenga MD (Innscor Distribution & Comox Malawi)


Stand 2449, Arlington Estate, Seke Road, Harare, Zimbabwe

Tel: +263 8611 370 186 | Email:

Frequently Asked Questions

When is Axia's Financial Year End?

30 June

When is the next set of results being announced?

Interim trading updates are published in March for 6 months to 31 December and in September for 12 months to 30 June.  The Axia Annual Report is published in November and will be available to download from the stock & finance section of this website.

When is the AGM?

The Annual General Meeting will be held in November. Dates will be as per the notice circulated 21days before the meeting.

What is a share?

The ownership of a company can be shared by many people and organisations.  A share is a unit of ownership.  When you own a share you bcome a part-owner (shareholder) of a company and you will have the right to receive any dividends paid on each share that you own, receive an electronic or paper copy or summary of the company's annual report and financial statements as well as any other shareholder communications.  You will also have the right to attend, ask questions and vote at general meetings of the company.

What is a dividend?

A dividend is a payment to shareholders paid out of the Company's distributable profits.  It is paid to everyone who is registered as a shareholder at the record date.  There is no guarantee that a company will make dividend payments in any given year or years.

How can I find out more about being a shareholder?

Please contact your stockbroker.  Alternatively, please contact Lynton-Edwards Stockbrokers, Imara Stockbrokers or IH Securities (Private) Limited (Stockbrokers).

How can I check today's share price?

The latest share price is available on the ZSE tab of this website as well as directly through the Zimbabwe Stock Exchange website: -

Contact Axia
Get More Information

Registered Office

Axia Corporation Limited, Edward Building
1st Street/Nelson Mandela Avenue, Harare, Zimbabwe

Physical Address

8 Cambridge Avenue, Newlands, Harare, Zimbabwe

Telephone Numbers

+263 24 2776998 | +263 24 2776273 | +263 8677 007503

Transfer Secretaries

Corpserve Transfer Secretaries (Private) Limited, 2nd Floor, ZB Centre
1st Street/Kwame Nkrumah Avenue, Harare, Zimbabwe