• Mon. Jul 22nd, 2024

Koumides bids adieu to Axia, Rambanepasi takes over

ByEconomic Times

Jan 9, 2023

By ETimes

Listed diversified goods retailer Axia has appointed Mr. Ray Rambanepasi as their new group chief executive officer, following the resignation of long time serving Mr. John Koumides.

In a statement Axia confirmed the appointment, “The Board of Axia Corporation Limited wishes to announce the appointment of the Group Chief Executive Officer, Mr. Ray Munyaradzi Rambanapasi, as with effect from 1 January 2023.”

Rambanepasi has been the group’s finance director since its listing in 2016.


In the same statement, confirming the resignation, the company said, “The Board of Directors of Axia Corporation Limited would like to announce the retirement of the Group Chief Executive Officer, Mr. John Koumides, with effect from 31 December 2022.”

According to Axia, Koumides was the inaugural group chief executive officer of, since April 2016 and he oversaw the group’s unbundling process from Innscor.

“Under his leadership, the group grew to become the market leader in the speciality retail and distribution sector; reaffirming our commitment to create value by providing high-quality consumer and durable goods in Zimbabwe and the Region,” Axia said in a statement.

Koumides played a leading role in the growth of the group during his tenure, ensuring that their extensive knowledge of the African business environment particularly Zimbabwe, Zambia and Malawi helped Axia meet customers and beneficiaries at their point of need.

According to Axia, Rambanepasi has held the position of group finance director since the establishment of the company in April 2016, amassing significant 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 statement read.

Rambanepasi is a chartered accountant, experienced in financial analysis, financial control and reporting, corporate finance, and internal control. He is a holder of a Master’s in Business Administration from the University of Cape Town Business School – Harare

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