Home » Zimbabwean fast food mogul Zinona Koudounaris gains $1.75 million on first trading day in 2022

Zimbabwean fast food mogul Zinona Koudounaris gains $1.75 million on first trading day in 2022

by Mfonobong Nsehe

Zimbabwean businessman Zinona Koudounaris has recorded a ZWL564.2-million ($1.75 million) boost to his net worth on Mon., Jan. 3, the first trading session in 2022, thanks to a double-digit-percentage surge in the share price of Axia Corporation.

Axia Corp is a Zimbabwe-based specialty retail and distribution business. The company maintains active operations through three operating business units, which include TV Sales & Home, Transerv and Distribution Group Africa.

As of press time, Jan. 4, shares in the Zimbabwe-based company were worth ZWL35 ($0.1087), 16.5-percent higher than their opening price for the year on the Zimbabwe Stock Exchange.

Koudounaris, who holds a governance role in Axia Corp, controls a substantial 20.86-percent stake in the Zimbabwe-based company, amounting to 113,982,912 ordinary shares.

On Jan. 3, the first trading session in 2022, shares in the specialty retail and distribution business soared by 16.5 percent thanks to strong buying interest by investors during the trading session.

Research by Billionaires.Africa revealed that Axia Corp’s share price surged from ZWL30.05 ($0.0933) at the opening of the bourse to ZWL35 ($$0.1087) at the closing of trading.

As a result of the price surge, the market value of Koudounaris’ 20.83-percent stake soared from ZWL3.43 billion ($$10.64 million) to N3.99 billion ($12.39 million).

The value bump in Koundounaris’ stake led to total gains of ZWL564.2 million ($1.75 million) at the end of yesterday’s trading session.

This value surge follows the $7.4-million gain that he recorded in 2021 thanks to a 227.7-percent increase in the shares of Axia Corp.

Apart from his stake in Axia Corp, the Zimbabwean multimillionaire businessman also controls a substantial stake in Innscor Africa Limited, the Zimbabwe-based consumer goods manufacturing business that he founded in 1987.

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