Axia appoints Rambanepasi as CEO
Specialty retail and distribution group, Axia Corporation Limited, has appointed Ray Munyaradzi Rambanapasi as its chief executive officer (CEO) effective the 1st of January 2023.
Rambanapasi replaces John Koumides who was the inaugural CEO since 2016, and oversaw the group’s unbundling process from diversified industrial conglomerate Innscor Africa Limited.
Under his leadership, the group grew to become a market leader in the specialty retail and distribution sector, reaffirming the group’s commitment to create value by “providing high quality consumer and durable goods in Zimbabwe and the region.”
“He played a leading role in the growth of the group during his tenure, ensuring that our extensive knowledge of the African business particularly Zimbabwe, Zambia and Malawi helped us meet our customers and beneficiaries at their point of need,” said Axia.
Koumides retired effective December 31, 2022.
The new CEO comes at a time the group is upbeat of consolidating its market share, albeit the challenging business environment characterised by limited foreign currency availability and inflationary pressures and waning consumer spend.
The group has been on expansion projects with its furniture brand TV Sales & Home on a store and factory capacity expansion to increase its footprint on the market.
A chartered accountant by profession, Rambanapasi holds a Masters in Business Administration from the University of Cape Town Business School.
He has held the position of group finance director since the establishment of Axia in April 2016, amassing knowledge and understanding of the group’s business operations.
“His focus on growing shareholder value and positioning the group for success will prove instrumental in the furtherance of our vision.
“The board, management and staff extend our warmest congratulations to Ray and wish him greatest success in his new role,” said Axia.-ebusinessweel;y
