Axia Sees Zimbabwe Growth on Store Expansion

Rutendo Mazhindu - ZimNow Reporter

Axia Corporation Limited registered growth in its Zimbabwe operations during the third quarter ended 31 March 2025, driven by increased volumes and an expansion strategy that saw new outlets opened under its TV Sales & Home and Restapedic divisions.

In Zimbabwe, TV Sales & Home recorded a 5 percent revenue increase, supported by a 15 percent growth in volumes compared to the same period last year.

The growth was attributed mainly to improved credit sales and the addition of two new retail outlets during the quarter.

The Restapedic division also delivered a strong performance, with revenue rising 21 percent on the back of a 33 percent increase in volumes.

Year-on-year, revenue was up 16 percent, while quarter on quarter growth stood at 24 percent, following the establishment of a new distribution centre in Bulawayo.

Axia said the expansion into new locations formed part of its broader strategy to strengthen market presence and stimulate sales, particularly in high-demand categories such as household electronics and bedding.

In the regional markets, the DGA segment, which covers Zambia and Malawi, recorded local currency revenue growth of 3 percent and 14 percent respectively.

However, some divisions underperformed during the quarter. The Legend Lounge division** posted a 9 percent decline in revenue, citing reduced demand for high-end lounge furniture due to economic headwinds.

The broader DGA unit also registered an 18 percent drop in revenue.

Axia noted that its performance going forward will depend on macroeconomic stability and sufficient foreign currency availability** in Zimbabwe, Zambia, and Malawi.

The group said it remains focused on enhancing operational efficiency, controlling costs, and maintaining strong cash generationacross all business units.