Zeda H1 revenue jumps 20%

South African mobility service provider, Zeda, has reported a significant jump in revenue and earnings in their half-year results, showcasing the resilience and potential for growth in the car rental and leasing industry. The company's revenue soared by 20% to 3.3 billion rand, with a 4% increase in headline earnings, driven by a substantial surge in leisure and corporate business travel. Zeda's CEO, Ms. Ramasela Ganda, elaborated on the company's performance, highlighting the exponential growth in the car rental segment, particularly in leisure and corporate travel. Despite the impressive numbers, Ganda cautioned that there is still room for further recovery, as inbound activities are only operating at less than half of pre-COVID levels. The company's focus on heavy commercial leasing and expansion into African markets presents promising growth opportunities for the future. Operating in 10 markets across sub-Saharan Africa, Zeda faces challenges such as foreign exchange risk and cash repatriation but remains optimistic about the prospects in emerging markets. Amidst rising inflation and interest rates globally, Zeda's innovative approach to usership and fleet management has positioned them well to navigate the challenges ahead. As businesses reassess their cash utilization strategies in response to economic uncertainties, Zeda anticipates an increasing demand for mobility services as a cost-effective alternative in the coming years.