eBusiness Weekly
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 April 1, 2016 to monitor and support the operations of Axia’s subsidiary companies.
Axia was listed on the Zimbabwe Stock Exchange on May 17, 2016. Following its unbundling from Innscor Africa Limited, Axia adopted June 30 as its financial year-end.
Axia Corporation Limited operates within the specialty 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.
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.
On February 24, 2016 Axia was incorporated as a wholly-owned subsidiary of Innscor. Effective on April 1, 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.
