Zeda revenue up 6.6% to R8.9bn

Barloworld's subsidiary Zeda has recently released its pre-listing statement, signaling its impending unbundling from the group next month. As part of this journey, Zeda will be listed on the JSE's mainboard, under the consumer services and rental leasing services segment with the share code ZZD. To shed light on the company's prospects as an independent entity, CNBC Africa sat down with Zeda's CEO, Ramaseela Ganda, for an exclusive interview. Ganda shared insights about the progress made so far and the road ahead for the company. Zeda's revenue has seen an impressive 6.6% increase, reaching R8.9 billion, showcasing its robust performance amidst challenging market conditions. The company is poised for listing on the 13th of December 2022, following the publication of the pre-listing statement. Ganda emphasized that Zeda is ready to hit the ground running and engage with investors through roadshows to build momentum leading up to the listing date. The selection process for Zeda's board was meticulous, focusing on factors such as experience and independence. Ganda highlighted the composition of the board, including four independent members and two internal representatives, aimed at ensuring proper governance and fulfilling statutory requirements. The interim chair remains in place until a new chairperson is appointed, underscoring Zeda's commitment to a seamless transition. Despite not engaging directly due to pending results, Ganda acknowledged positive feedback from shareholders and the market. Existing shareholders within the Barlow World group expressed curiosity about Zeda's standalone identity and performance outside the conglomerate's umbrella. The company's exceptional results over the past two years have generated excitement among investors, signaling a promising future for Zeda as an integrated mobility provider. Zeda's strategic focus moving forward involves redefining its offerings within the evolving landscape shaped by the pandemic. The company aims to enhance its position in the market by embracing an integrated mobility approach that champions vehicle usership economy. Ganda emphasized the importance of understanding the total cost of ownership, particularly in deploying electric vehicles to promote affordability and sustainability. By leveraging digitalization and on-demand services, Zeda seeks to revolutionize the car rental industry by providing flexible and accessible options to users. Addressing the topic of capital raising, Ganda ruled out immediate plans for such measures, citing strategic partnerships and asset-backed funding as key pillars of Zeda's financial strategy. The company's current liquidity and available funding facilities offer ample room for operational growth and exploration of alternative funding avenues. As Zeda embarks on its standalone journey, the focus remains on innovation, sustainability, and strategic collaborations to drive future success in the mobility sector.