HARARE – Innscor Africa subsidiary Axia listing on the Zimbabwe Stock Exchange is a sign of the diversified conglomerate’s confidence on the local market, the central bank has said.
Reserve Bank of Zimbabwe deputy governor Charity Dhliwayo told delegates attending the listing of Axia on yesterday that Innscor has remained resolute despite the economic challenges being experienced in the country.
“The strategic decision to list on the stock exchange, particularly coming against the background of a challenging environment that has seen some companies de-listing, is indeed commendable,” she said.
This comes after the group in November last year unbundled and listed another subsidiary, Simbisa Brands, on the local bourse through dividend in specie.
Axia, which incorporates Distribution Group Africa, Transerve and TV sales & Hire, traded at $0,075 on its debut.