OK Zimbabwe plans to reopen its Entumbane branch in Bulawayo, one of five branches it closed earlier this year due to a challenging trading environment that led to stock shortages during the third quarter ending December 31, 2024.
At the time, OK Zimbabwe, which operates nearly 70 branches nationwide, reported that product availability had dropped to about 50% of normal stock levels.
Margaret Munyuru, the group’s company secretary, told a Parliamentary Portfolio Committee on Industry and Commerce, which recently visited the Entumbane shopping complex, that with the support of the Bulawayo City Council, the company is reversing its decision to close the branch.
Munyuru also said the branch will no longer operate as a retail outlet but will be converted into a wholesale operation. She said:
<blockquote>
The last time we met, we referenced the closure of a supermarket in the Bulawayo Matabeleland region, OK Entumbane, and I’m very happy to say that we have reversed that decision with the support of Bulawayo City Council.
We are now converting the supermarket into a wholesale facility.
We have received confirmation that they will support us with the wholesale licence so that we can transform our operations from a traditional supermarket into a wholesale facility that operates at a lower cost than the ordinary supermarket that we traditionally do.
</blockquote>
The Parliamentary Committee on Industry and Commerce, currently touring the country to assess business conditions and engage directly with retailers to understand their challenges, visited OK Zimbabwe’s outlets in Harare on Tuesday. Said Manyuru:
<blockquote>
We have already started restocking. A few weeks ago, even a month and a half ago, you would have noticed that even Mazoe was missing from the shelves. The shelves are now filling up.
</blockquote>
Edington Virimayi from Makhandeni B said that after OK Zimbabwe closed its Entumbane branch, residents were forced to travel to town for shopping and other services that the branch had previously provided. He said:
<blockquote>
The closure of OK affected the community, we used to collect money here from our relatives abroad since the shop had World Remi, Mukuru, and other money transfer services, but now we are forced to go to town.
Even buying groceries, OK used to offer better prices compared to other shops here in the suburbs, the supermarket accepted both US dollars and ZiG, which made it easy for us, so the closure made our lives expensive.
We also used to pay our bills, like buying licenses, electricity, and other things here, it’s now difficult for us, so we appeal to the company to reconsider their decision.
</blockquote>
OK Zimbabwe recently closed five branches namely; Robson Manyika (Harare), Glen Norah (Harare), Kuwadzana Express (Harare), Mbare (Harare) and Chitungwiza Town Centre (Chitungwiza).
More: <a href="https://www.herald.co.zw/ok-zim-reverses-byo-branch-closure-decision/">The Herald</a>

Pindula News

OK Zimbabwe closed their Entumbane branch in Bulawayo but now they plan to reopen it. The branch will become a wholesale store instead of a supermarket. This decision was made with the support of the Bulawayo City Council. OK Zimbabwe also closed other branches due to stock shortages. People in the community are happy about the decision to reopen the Entumbane branch because they can buy groceries and use money transfer services there. The company is also restocking their shelves in other branches.

OK Zimbabwe Reverses Closure Of Entumbane Branch In Bulawayo

OK Zimbabwe Limited has dismissed its senior executives and brought back former managers to guide the company through a major business review and restructuring.
Willard Zireva, who retired in 2017, has returned, along with Alex Siyavora, who led the company until 2021. They will lead OK Zimbabwe temporarily during this period of change.
This follows the recent closure of four OK Zimbabwe stores and ongoing stock shortages, highlighting struggles in the retail sector.
The company announced these changes in a statement dated February 26, 2025, from Company Secretary Margaret Munyuru.
The executives who have left the company include CEO Maxen Phillip Karombo, CFO Phillimon Mushosho, and Supply Chain Director Knox Mupaya.
The new leadership appointments are: CEO Willard Vimbai Zireva, CFO Alex Edgar Siyavora, and Supply Chain Director Muzvidzwa Richard Chingaira. Added Munyuru:
<blockquote>
The Board would like to acknowledge the outgoing Executive team for their service through this challenging period and to welcome back the team reposed with the remit to stabilise and turn the business around over the next six months whilst the Company engages in the process to identify the executive replacements.
</blockquote>

OK Zimbabwe has fired top bosses and brought back former managers to help fix the company. The retail sector is struggling and some stores have closed. The new leaders are Willard Zireva, Alex Siyavora, and Muzvidzwa Chingaira. They will work to stabilize the business in the next six months. The old CEO, CFO, and Supply Chain Director have left. The company hopes the changes will help them improve and find new executives in the future.

OK Zimbabwe Sacks Senior Executives

OK Zimbabwe Limited has alerted the public about a fake message circulating on social media that falsely claims to offer jobs at their company.
In a statement, OK Zimbabwe said the advertisement was not legitimate and did not come from them.
The company advised prospective jobseekers that their real job openings are only posted on their official website and LinkedIn page. The statement reads:
<blockquote>
It has come to our attention that a fraudulent message is circulating on social media falsely claiming to offer employment opportunities at OK Zimbabwe Limited.
We would like to take this opportunity to inform the public that this information is not legitimate and did not originate from OK Zimbabwe Limited. We distance ourselves from this communication in its entirety.
As an equal opportunity employer, OK Zimbabwe Limited is committed to fair hiring practices. All legitimate job vacancies will only be posted through our official channels, which include our website 
www.okziminvestor.com and our LinkedIn page OK Zimbabwe Limited (Official Page).
We urge all job seekers to verify any employment opportunities directly through these platforms to avoid falling victim to scams.
We encourage the public to report any suspicious activity related to employment offers purportedly from OK Zimbabwe Limited.
</blockquote>

OK Zimbabwe told people a fake message is online about jobs at their company. They said it's not real. Real job openings are only on their website and LinkedIn. If you see a fake job ad, don't believe it. Check their official channels to be safe. Don't fall for scams. If you see anything suspicious, tell OK Zimbabwe. They want to hire people, but only through the right channels. Be careful about job offers online.

OK Zimbabwe Disowns False Employment Ads Circulating Online

OK Zimbabwe Limited experienced a challenging trading environment in the third quarter of 2024, driven by reduced consumer spending, local currency devaluation, and liquidity shortages.
In its trading update for the quarter ending 31 December 2024, released on 14 February 2025, OK Zimbabwe reported stockouts caused by limited supplies and increased operating costs due to frequent power outages, which led to temporary branch closures. Group Company Secretary Margaret Munyuru said:
<blockquote>
The operating environment was largely subdued due to lower-than-expected consumer spend in the quarter under review.
Acute local currency liquidity shortages re-access to the much-needed funding to cover working capital cycles across the formal retail sector.
The local currency unit, ZWG, experienced a sharp devaluation in September 2024 as monetary authorities sought to improve the viability of the exchange rate system for the broader economy.
Invariably, the devaluation had the net nearly doubling existing US dollar-denominated obligations in loans and creditors’ balances.
</blockquote>
During the quarter under review, OK Zimbabwe experienced frequent stockouts, with daily availability levels averaging only 50% of normal stocking levels. Reads the update:
<blockquote>
The Group experienced episodes of stockouts during the quarter under review as evidenced by daily availability levels of around 50% of normal stocking levels stockouts arose from restricted supplies from manufacturers and distributors.
The Group had outstanding and overdue creditors’ balances which were predon denominated in US Dollars against a backdrop of low US Dollar sales collection, at times reaching as low as 20% of sales revenue.
The low stocking levels are a manifestation of sub-economic pricing arising out of exchange rate distortions and suppliers’ need for foreign currency invoicing to cover their operational and raw needs.
Suppliers continued to insist on shorter trading terms and in some cases prepayments for supplies invoiced in local currency.
This exerted pressure on the working capital and necessitated the need to access short-term funding.
</blockquote>
Load shedding negatively impacted the company by disrupting operations and driving up costs, as the business had to rely more on alternative power sources. Said Munyuru:
<blockquote>
Power outages worsened during the trading period resulting in disruptions in business operations and increases in operating costs as the business relied more on alt sources of power.
To mitigate against rising operating costs, the Group resolved to close four branches in Glen Norah, Kuwadzana 5, Chitungwiza Town Centre and Manyika Street, all in Harare.
Review and consideration of the future of branches saddled with the stifling impact of unsustainable operating cost structures and licencing requirements is in progress.
</blockquote>
OK Zimbabwe registered a 36% decline in sales volumes compared to last year, but year-to-date growth of 10%. Reads the update:
<blockquote>
Volumes decreased by 36% in comparison to the same period last year. However, on a year-to-date basis, the Group recorded volume growth of 10% over the same period.
The reduction in volumes recorded during the quarter translated to a decline in revenue of 36% as compared to the prior period.
The company is restocking with supplier support and financial aid while exploring alternative procurement models.
</blockquote>
The company’s future depends on economic stability and policy changes to improve market conditions. Said Manyuru:
<blockquote>
The business has begun restocking the operating units with support from supplier partners as well as financial institutions that continue to assist with short-term structures.
New alternative procurement models have been developed which include, but are not limited to, a structured stock supply arrangement with third p supplier assurance purposes as the business works to restore critical supply relationships with both local and foreign suppliers.
</blockquote>
The Group is confident of restoring stocking levels before the closure of the current financial year.
The fortunes of the country’s formal retail sector are hinged on the stability of our exchange rate regime.
Consultations with both Fiscal and Monetary Authorities have relaxed the very strict policing of applicable in-store exchange rates.
<blockquote>
The Group welcomes the recently announced Monetary Policy Statement measures which number of limitations and introduced some level of flexibility within the foreign exchange market.
However, there is a need for absolute clarity on the roadmap toward a market-determined exchange rate system.
Such a liberalized system will go a long way in restoring the competitiveness of the formal retail sector.
</blockquote>

OK Zimbabwe had a hard time in the third quarter of 2024 because people weren't spending a lot of money and there was a shortage of money. There were not enough supplies, and the currency lost value. The company had to close some branches because of power cuts. Sales went down by 36%, but things were better compared to last year. The company is trying to get back on track by restocking and getting help from suppliers and banks. They hope things will get better by the end of the year. The company is waiting for the government to make some changes to help the economy.

OK Zimbabwe Reports 36% Decline In Sales Volumes For Q3 2024

OK Zimbabwe, the country’s largest retailer by store numbers, has shut down five branches due to a challenging trading environment, reported <a href="https://www.businessweekly.co.zw/ok-zimbabwe-treading-in-choppy-waters-closes-five-branches/">Business Weekly</a>.
However, critics point to several factors behind the closures, including a bloated management structure with at least nine directors and over 30 senior executives, all with luxury vehicles and high perks.
Questions have been raised about decisions made by the company’s leadership, such as multiple land acquisitions and dividend declarations, which have reportedly tied up cash or misallocated funds in recent years.
In addition, OK has faced difficulties restocking, with many outlets experiencing empty shelves, particularly in food products. Suppliers are reportedly unwilling to provide goods on credit or in local currency.
The company is also struggling with US$17 million and ZiG537 million in outstanding payments to suppliers, some of whom have withheld supplies despite part payments.
In an internal memo, OK announced plans to cut its workforce, closing five outlets—Robson Manyika, Glen Norah, Kuwadzana Express, Mbare (all in Harare), and Chitungwiza Town Centre, as well as Entumbane in Bulawayo. A sixth branch is scheduled to close in March.
The closures will result in job losses, primarily targeting low-level workers, with severance pay set at one month’s salary for every year worked, along with three months’ notice pay and payment for unused leave.
The branches being closed are among those making losses or operating from rented spaces. OK operates 72 branches across Zimbabwe.
A company executive, who wished to remain anonymous, told Business Weekly that OK’s troubles are due to currency and economic issues in the US dollar-dominated economy. 
The retailer’s situation worsened after receiving goods on credit in US dollars, which they now struggle to pay off due to cash flow issues.
Despite the introduction of the Zimbabwe Gold (ZiG) in April 2024, which stabilized the local currency, it hasn’t improved OK’s fortunes.
The retailer also faces intense competition from the informal sector, where suppliers prefer cash transactions in US dollars, allowing informal traders to offer lower prices due to fewer regulatory burdens and tax obligations.
Award-winning journalist Hopewell Chin’ono, citing industry insiders, said that six more OK branches will be closing soon. He added:
<blockquote>
These closures bring unemployment not only to OK Zimbabwe but also to downstream and upstream industries.
Downstream industries are businesses that rely on OK Zimbabwe to sell their products, such as farmers, suppliers, and manufacturers of goods stocked in the supermarkets.
Upstream industries are businesses that provide logistics like truckers that moved goods to OK Zimbabwe, packaging and maintenance service providers.
</blockquote>

OK Zimbabwe, the biggest store in the country, closed five branches because they were struggling. People are blaming the company's leaders for making bad decisions and not managing money well. Suppliers don't want to give them products unless they pay in US dollars. The company owes a lot of money to suppliers too. They are cutting jobs and closing more branches to try to save money. The company is having a hard time because of the economy and competition from other stores. Even though the local currency got better, OK Zimbabwe is still struggling.

Retail Giant OK Zimbabwe Shuts Down Five Branches

OK Zimbabwe, one of the country’s major retail chains, ensures that its exchange rates are regularly updated to reflect the prevailing rates at the time of customer transactions.
In response to a customer’s inquiry regarding pricing discrepancies, OK Zimbabwe clarified that the rate displayed in the shop may not always align with the rate used at the checkout counter, as exchange rates fluctuate throughout the day. Queried the customer:
<blockquote>
I am a loyal OK customer, where everyone is a winner. I have a question. Would you care to explain your pricing disparities. In every branch of yours there is a chart displaying the USD/ZWL exchange rate.
Your prices are marked in USD. Paunosvika patill uchihibhadhara with ZWL you would naturally expect to pay using the displayed rate, asi hazvisirizvo zvinoitika, hameno language inotanga kutaurwa and you pay using a different rate, I was made to understand that the rate differs from product to product. Ndizvo here?
Is it possible to be transparent about the cross rate formula? Hamukwanise kuita zvinoitwa kuPick n Pay, displaying both USD and ZWL price?
</blockquote>
OK Zimbabwe’s response shows that the retail chain changes prices constantly in line with the movement of the exchange rate. It said:
<blockquote>
Our rates are updated based on the prevailing rates at the time of your transaction. However, the exchange rate might change in our system before we can update our displays.
</blockquote>
Another customer said he has stopped shopping at OK because one doesn’t know the price of a product until one gets to the till.
The depreciation of the Zimbabwe dollar can lead to exchange losses for retailers when converting foreign currency purchases back to the local currency. This affects the overall profitability of retailers.
Retailers are, therefore, forced to adjust prices frequently to keep up with rising costs.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

OK Zimbabwe Clarifies Pricing Disparities

An economist has accused Finance and Economic Investment Ministry’s Permanent Secretary George Guvamatanga of promoting the cannibalisation of formal businesses after he dismissed claims by owners of formal retailers that informal shops (tuckshops) are killing their businesses.
The economic commentator, Tinashe Murapata, said the retail and wholesale sector is the largest contributor to tax through VAT and the electronic transfer tax. He said:
<blockquote>
The perm sec, in his apoplectic misfiring, was invariably accusing himself and Treasury of mismanaging the economy.
Worse, instead of protecting the guys who believed in his policies to the letter, he threw them under the bus.
The retail and wholesale sector is the largest contributor to tax through VAT and 2% electronic transfer tax.
They act as legal agents to the Treasury. Yet, today, there are clandestine operations that avoid paying VAT at all.
What then does it say about the Treasury promoting the cannibalisation of formal businesses? Businesses that on cue have followed what the President wants?
The banking sector has been reduced to a miserable US$1.2bn lending activity. 25% of its GNU highs. US$2bn deposits outside the banking sector.
The truth is that the Perm Sec is diverting attention. Government of Zimbabwe’s policy prescriptions told the patient to jump off a bridge. Unfortunately, the patient followed instructions.
</blockquote>
Guvamatanga made the controversial comments at the Zimbabwe Economic Development Conference (ZEDCON) in Victoria Falls.
Last week, one of the country’s biggest retail chains, OK Zimbabwe, said “tuckshops” are killing large-scale retailers as they are forced to price their products using the official exchange rate which makes the goods very expensive in US dollars.
But Guvamatanga contended that big retailers should come up with innovative measures and adapt to economic dynamics. He said:
<blockquote>
How do you complain about a tuck shop that pays five times more per square meter rent, does not have access to credit, and buys all the goods in cash right, because they do not have any access to credit?
Possibly they do not have better systems than what you have. And they do not have access to the cheaper foreign currency, they have to go to the parallel market.
You then come and say that you’re not able to compete because you have been taken out of business by informal tuck shops.
If I were on the board, I would fire you because you will be useless management. I would fire you.
</blockquote>
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Govt Promoting The Cannibalisation Of Formal Businesses - Economist

Large-scale retailers in Zimbabwe are struggling to remain viable due to competition from “tuck shops”, informal shops that sell exclusively in US dollars and do not pay taxes to the Government, <a href="https://newzwire.live/not-so-ok-the-forced-death-of-zimbabwes-big-supermarkets/">reported newZWire</a>.
According to one of the country’s biggest retail chains, OK Zimbabwe, unregulated informal shops now dominate the retail space.
While larger supermarkets are full of goods, customers prefer to buy products from tuckshops which offer competitive prices compared to supermarkets.
Big supermarkets are forced by the government to price their stock using the official exchange rate, making their prices exorbitant in US dollars.
Added to that, larger supermarkets also pay taxes, rates, and other regulatory fees.
Manufacturers and suppliers now sell their goods directly to informal traders who pay in USD upfront.
OK Zimbabwe, which has over 60 outlets nationwide, says most supermarkets battling for survival.
In a press advertorial for its “DollarDeal” promotion, which seeks to drive sales by offering customers bargain deals for US$1, OK Zimbabwe said:
<blockquote>
It has been an interesting watch as perhaps; most formal retailers now are battling for survival. The rise of the unregulated informal operators, who are mostly arbitraging, has caused more headaches than good for the formal guys like OK Zimbabwe, TM Pick n Pay, Gain Cash &amp; Carry and so many more. This has created a whole new spate of dangerously unhealthy competition.
… In instances where some are paying taxes, some are not. Where some are using the regulated bank exchange rate, some are not, hence causing artificial or distorted price points in the stores.
The informal retailer is infamously using the black-market rate and marks the same products downwards causing “forced death” on the formal retailer.
</blockquote>
The retail chain urged the Government to create a level playing field to enable the formal retailer to survive through policy intervention.
It warned that failure to create a level playing field will result in company closures and the loss of jobs.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Tuckshops "Killing" Zimbabwe's Big Supermarkets

The OK Zimbabwe Group celebrated the opening of its first-ever Bon Marché store outside of Harare this past weekend in Marondera.
The opening celebrations, hosted within the town located 60km outside of Harare, included supplier promotions, free toll gate passes, product sampling and several US$20 vouchers issued to lucky individuals.
The Bon Marché Marondera store becomes the 9th supermarket within the company’s flagship high-end Bon Marché brand offering and the first new store built outside of Harare’s affluent Northern suburbs.
OK Zimbabwe designed the new look store using the latest thinking in retail architecture, which emphasises natural light, sustainability and quality finishing.
Juliet Ziswa, OK Zimbabwe’s marketing director, who was the lead director in the new format store design, said:
<blockquote>
We began with the shopper in mind and built our store around international trends that make shopping more pleasurable and enjoyable. The store, for example, has very wide aisles to accommodate family shopping missions, it optimises the use of a lot of light throughout the store, to accentuate the freshness of our fruit and vegetable range, and we have built sustainability into the design by using glass door coolers throughout the shop for better energy efficiency.
</blockquote>
OK Zimbabwe recently acquired the franchise rights to Food Lovers Supermarkets in Zimbabwe.
The expansion of Bon Marché into non-traditional geographies signals a deliberate and clear intention by the group to diversify its income from the core middle market, cornered by its eponymous OK Stores.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

OK Zimbabwe Opens First Bon Marché Store Out Of Harare

OK, Zimbabwe has responded to an outcry over its prices. In a statement released on Thursday, the giant retail chain said:
<blockquote>OK, Zimbabwe is grateful for the support and patronage of all our customers. Your support and patronage, particularly in these difficult times, is especially appreciated.
We are proud to be the leading Zimbabwean retail and supermarket chain and we will strive to ensure that you, our customers, will continue to get value from our stores.
The last month of June has been turbulent as we received numerous price increases from our supplier base as they chased the exchange rate movement.
We welcome the new SI142, which we believe will stabilise prices and allow us to deliver the good prices and value you have always expected and enjoyed from us.
We have always received good support from our supplier partners. Accordingly, we have engaged them and some have started to moderate prices in response to SI142.
We will continue this engagement to ensure that we, together with them, deliver the value you have always enjoyed.
We appreciate and applaud the feedback we receive from you our customers. We have a number of platforms available for easy access, communication and feedback.
We would like to assure you that we will continue with our relentless efforts to ensure that all our stores nationwide remain reasonably stocked.</blockquote>
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FULL TEXT: OK Zimbabwe Addresses Customers Over Its High Prices

Leading supermarket retailer OK Zimbabwe Limited has posted a profit of $16,6 million for the full year ending 31 March 2018. This was a massive 174,6 percent increase from the $6.1 million in the previous period. In a statement, group chairperson, Mr David Lake said,
<blockquote>Revenue for the year improved by 23,4 percent to close the reporting period at $582,9 million having increased from $472,4 million in the prior year. Profit before tax of $23,6 million was 165,6 percent up on prior year’s $8,9 million, while profit after tax increased by 174,6 percent to $16,6 million from $6,1 million in prior year.
The cost of sourcing foreign currency had the inevitable effect of increasing prices, with Zimstat reporting year on year inflation increase of 0, 21 percent.</blockquote>
More:<a href="http://www.chronicle.co.zw/ok-zim-posts-16-million-profit/" rel="noopener" target="_blank"> Chronicle</a>

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