HARARE- Axia Corporation says it has entered the 2026 financial year on a strong footing, buoyed by a stable Zimbabwean operating environment, a bold pricing reset across its retail units, and resurgent volumes in regional operations.
Group CEO Ray Rambanapasi told shareholders at the company’s AGM that the first four months of FY2026 reflect “encouraging momentum,” particularly as affordability and strategic store expansion begin to pay off.
Rambanapasi said the domestic market benefited significantly from exchange rate stability, which improved the group’s ability to plan, price and stock consistently.
TV Sales & Home saw a 33% increase in volumes, a rebound he attributes to aggressive repricing implemented since late 2024, coupled with additional store openings.
“The pricing strategy we adopted in October last year is paying dividends. We wanted to offer decent, fairly priced goods and consumers are responding,” he said.
Restapedic’s bedding division recorded 30% volume growth, boosted by expanded production at its new Sunway City facility. The lounge division, which suffered a temporary 20% decline after relocating equipment from Msasa is now showing “an upswing from September,” signalling recovery.
Transerv, continues its strong growth trajectory with 20% volume growth driven by new product lines and new stores opened post October 2024.
The group’s distribution business now comparable year-on-year post restructuring delivered 22% growth with a major shift toward supplying the informal market. Rambanapasi noted that while formal retail still contributes meaningfully the informal sector is now a critical growth pillar.
In a side interview, Rambanapasi said the group has adapted to Zimbabwe’s evolving retail landscape.
“The informal market is here, and we have to coexist. We’re supplying it directly with correctly priced, quality products. That’s why you see strong performance in batteries, beds and distribution,” he said.
He emphasised that the group’s pricing realignment aims to reach both formal and informal shoppers extending Axia’s market relevance.
Outside Zimbabwe, Axia’s regional footprint delivered some of the most impressive numbers.
In Malawi, despite persistent forex shortages, locally sourced products have driven 50% volume growth in four months. Rambanapasi said the strategy is simple: “We trade to the level that allows us to generate the required currency.”
Zambia recorded an equally strong 50% volume increase, supported by an appreciating Kwacha which “enabled normal trading” and restored purchasing power.
Answering questions on profitability, Rambanapasi noted that profit after tax has been rising sharply, partly because the comparable period last year was hit by severe devaluation effects. He said the group’s focus on the “right pricing, cost efficiency, and controlling financial losses” has positioned the business to sustain organic earnings growth.
The CEO confirmed that Axia is exploring new regional opportunities although currently bound by non-disclosure agreements.
“We are looking into the region. Bear in mind, the region is also an emerging market, like Zimbabwe, with challenges that has to do with the likes of foreign currency exchange. However, that being said, in the same area, we are looking at countries which we think they can add value to the group.Once we conclude transactions, we will advise the market,” he said.
Rambanapasi added that the group is prepared to push for continued growth provided policy consistency and currency stability are maintained.
“As a group, we are encouraged by the current environment. We are geared to pursue growth and scale our operations,” he said.
The group has been aggressively increasing its physical footprint and widening product offerings to strengthen its market position. TV Sales & Home has opened between four and six new branches since October 2024, while Transerv added roughly ten stores in the last financial year, significantly boosting customer reach.
Beyond opening new outlets, both businesses have broadened their product ranges a strategy Rambanapasi described as a major driver of the strong volume growth seen across the group as customers now have access to a wider selection of competitively priced, quality goods.
