Axia hails ZWG stability as revenue surges to US$122 million
VICTORIA Falls Exchange-listed Axia Corporation Limited (Axia) has commended the sustained ZWG currency stability for yielding an environment of operational clarity on the back of realising revenue of US$122 million during the reporting period.
Launched on April 8, 2024, Zimbabwe Gold (ZWG) also known as the ZiG, is the official structured currency of Zimbabwe which has managed to sustain a stable exchange rate for over a year’s period, yielding maximum confidence in the process.
Presenting the group’s performance for the latest reporting period, Axia Corporation board chairman, Luke Ngwerume hailed the Zimbabwean trading environment for being largely stable, with minimal movements on the exchange rate and an improved inflation outlook.
Axia is a dominant group, which operates speciality retail, distribution, and logistics sectors, primarily in Zimbabwe, Zambia, and Malawi via three main business operating units TV Sales & Home, Transerv and Distribution Group Africa.
Apart from stable ZWG currency, the company said the also market witnessed a marked USD liquidity improvement, culminating in in a stronger demand for the group’s products.
“In the reporting period which ended December 31, 2025, the Axia group reported revenue of US$122milion, reflecting a 22% increase compared to the prior period driven by competitive pricing that met market demand.
“Gross margin improved by 10%, driven by competitive pricing that met market demand while operating expenditure increased by 15% mainly due to growth in staff overheads as a result of new shops added and other variable costs,” Ngwerume said.
The group achieved an operating profit of US$15,3 million, representing a 4% increase compared to the prior period. The distribution business recorded significant provisions for credit losses due to difficulties encountered by the credit performance of some customers in the formal trade. This affected the growth of the Group’s profitability levels.
Profit before tax grew by 28% to US$8, 8 million. T.V Sales & Home recognised a significant income tax provision during the period following an assessment by the Zimbabwe Revenue Authority (ZIMRA) relating to prior financial periods.
“This continued stability will enable better and effective planning and management of costs. The Group remains committed to sustaining steady growth amid an evolving regional trading environment .In Zimbabwe , improved local currency stability during the first half has provided greater operating clarity,” added Ngwerume.