Chronicle Editor
Leonard Ncube, Online Reporter
RETAIL and specialty distribution group, Axia Corporation Limited has officially listed on the Victoria Falls Stock Exchange (VFEX) to become the 10th counter on the United States dollar denominated bourse.
The group is the holding company for TV Sales and Home , Transerv and Distribution Group Africa, with presence in different countries of Southern Africa.
Deputy Minister of Finance and Economic Development Clemence Chiduwa represented Minister Professor Mthuli Ncube as the guest of honour at the listing ceremony held today in Victoria Falls.
He said the VFEX had grown tremendously considering it is within its 3rd year of inception and the bourse is earmarked to soon migrate to the Special Economic Zone of Victoria Falls while urging companies to take advantage of incentives put forward by Government.
Dep Minister Chiduwa said there are positive structural economic transformations currently taking place across the various sectors of the economy and the thematic areas of the National Development Strategy 1 (NDS1).
“I am happy to witness how new listings are a positive testament of these initiatives. The more listings we are having on the Victoria Falls Stock Exchange, the more we are witnessing the growth trajectory of the Exchange. We are very delighted with this development,” he said.
“I would like to applaud Axia for ensuring that every consumer in the country has access to their reasonably priced quality products through their various subsidiaries.”
Axia Corporation Limited chair Mr Luke Ngwerume said since the VFEX was established to attract foreign capital into the country, its potential to become a regional exchange aligns with Axia priorities to expand regionally.
“Today is an iconic day for Axia Corporation Limited, because we believe our introduction to the VFEX brings diversity to the exchange. Furthermore, the performance of Axia is important to the economy of Zimbabwe because it is a specialist in retail and distribution of consumer goods and mirrors the economy’s performance and the quality of life of the average consumer,” he said.
Axia Corporation Limited has been growing tremendously with a growing demand across its main businesses, in particular TV Sales & Home which grew its sales volume by 8%, contributing to an overall group revenue growth of 32% from the comparative period.
-@ncubeleon
Online Reporter