To create value through the provision of high quality consumer and durable goods in Zimbabwe and the Region.
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.
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.
VALUES
Integrity, Fairness, Entrepreneurship, Quality, Accountability, Teamwork
NAMING AND LOGO OF AXIA
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.
HISTORY OF THE SPECIALITY RETAIL AND DISTRIBUTION BUSINESS
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.
Domicile
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
Auditors
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
- Luke Ngwerume (Chairman)
- Ray Rambanapasi
- Zinona (Zed) Koudounaris
- Thembiwe Mazingi
- Thembinkosi (Themba) Sibanda
- Ray Rambanapasi (Group Chief Executive Officer)
TV SALES & HOME
Sean Gorringe (Chief Executive Officer)
Joseph Kamasho (Financial Director)
TRANSERV
Llyod Mugabe (Managing Director)
DISTRIBUTION GROUP AFRICA
Craig Hodgson (Chief Executive Officer)
Vengai Mugabe (Finance Director)
DISTRIBUTION
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)
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.
Management
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
Contact
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: enquiries@tvsales.co.zw Website: www.tvsales.co.zw
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.
Management
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
Contact
No.118 Simon Mazorodze Rd, Southerton, Harare, Zimbabwe
Tel: +263 24 2669733 | +263 24 2669734 | +263 24 2660328
Email: bekker@transerv.co.zw Website: www.transerv.co.zw
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
Management
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)
Contact
Stand 2449, Arlington Estate, Seke Road, Harare, Zimbabwe
Tel: +263 8611 370 186 | Email: info@dga.co.zw
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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: - www.zse.co.zw.
Registered Office
Axia Corporation Limited, Edward Building
1st Street/Nelson Mandela Avenue, Harare, Zimbabwe
Email: finance@axiaops.com; admin@axiaops.com
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
Email: enquiries@corpserve.co.zw