HARARE – Zimbabwe Stock Exchange listed retail giant OK Zimbabwe has approached the City of Harare seeking support as the company battles mounting operational and financial pressures that have severely affected its performance, including the issue of illegal traders operating directly in front of their outlets.
Harare Mayor Jacob Mafume confirmed that he met with OK Zimbabwe Chief Executive Officer Vimbai Willard Zireva and the Permanent Secretary in the Ministry of Industry and Trade, Thomas Utete Wushe, to explore measures the municipality could take to aid the retailer’s recovery.
Mafume said the company raised concerns over informal traders operating outside its outlets, a situation that has contributed to declining sales as customers opt for cheaper informal alternatives.
“We committed to addressing the issue of people trading in front of their stores. We will also continue to look at ways of further reducing licence fees,” Mafume said following the meeting.
He added that the city would craft a sustainable payment plan to help the retailer settle outstanding rates owed to the council. OK Zimbabwe operates 31 stores across Harare, and the mayor expressed hope that the number would grow rather than shrink amid ongoing restructuring.
The company has been struggling to regain stability following a significant drop in revenue and persistent liquidity challenges.
OK Zimbabwe reported a 53% decline in revenue to US$240 million in 2025, attributing the downturn to supply chain disruptions, currency volatility and stiff competition from informal traders who offer favourable USD cash terms to suppliers.
In recent weeks, the retailer has also faced pressure to dispose of several properties to service loans and inject liquidity into the business.
Although shareholders raised US$20 million through a rights offer earlier this year, progress on raising the remaining US$10.5 million through property sales has been slower than anticipated.
By August 2025, only US$7.3 million worth of offers were under review, with some buyers proposing leaseback deals.
The properties earmarked for disposal include OK Mbuya Nehanda, OK Glen View, the Birmingham Warehouse, OK Gweru, OK Malvern, Stand 6464 in Ordar Township, Stand 39 in Odar Township (Harare), Stand 19676 in the Harare Township of Borrowdale, and a stand in Mutoko.
OK Zimbabwe links its decline to widespread supply-chain interruptions, fluctuations in the exchange rate, and mounting pressure from informal traders who attract suppliers by offering the advantage of US-dollar cash payments.
its all about prices now instead of chasing vendors away OK should revisit their margins?
Whilst we all know that there are no employment opportunities and we've all become vendors, let's also be considerate. Selling right in front of these shops is unjustified.
These guys are usually very rude and can harass you when you accidentally knock off their stuff and yet they'll be spread on the pavement. They don't pay tax, rates and other overheads so in all fairness they should be moved away to some designated stalls.
Guys do you know that OK contributes to Zimbabwe GDP, OK pays Tax to the government and employ hundreds of people across Zimbabwe. You cannot compare OK and vendors who are not paying tax.
The council should provide places for vendors.OK is absolutely correct because how can you sell in front of their outlet.
Pricing ye ok hameno varikuionepi they are not studying the markets to match ma competitors avo
Times have changed OK needs to do the same Spar is thriving Pnp is holding it's own both shops have studied the market and trying to adopt
Let informal traders sell away from their businesses not at their door steps
Their prices are too much for this economy at least ngapave nemusiyano mushoma nema tuckshop kwete ma 50c ,$1 difference people will continue buying Kuma informal kwacho
Ok that bus has left the station
The customers will still follow the informal traders wherever they go leaving OK with a store empty of buyers
Informal traders are not even a fraction of OK’s woes, vakapembera pakaunzwa Zig isu tichiriramba then it was offloaded rese kwavari and they were left counting losses
😀The new generation of traders haa knows how to market business and negotiate with customers,iwe ungatenge ma apple anotanga aiswa pa ⚖️ scale
Vaka broker ne nyaya yekutenga motor dzema manager
Those traders are selling counterfeit goods also
Zvimwe zvacho zvanyanya council should put strong measures
nxcaa informal wat? they thot kuti gvt will beg then to stay. isu tiri kuiblueticker isu.
Government yaregerera OK ichifa how same product ikutengesewa mukat mu shop inotengewa panze at the expense of OK pa electricity ma lite enenge aka vheneka obhadhara hake asi vanhu vachitenga panze. Government must do something kuchengetdza ma companies
Vanhu vangwara izvezvi havachada zvinhu zvinodhura vanotenga panze so pamutengo ndohosha hombe iyoyo vakangocheaper chete vanodzika mugame.
Ok Zimbabwe was one of the best. We watched ok grand challenge. People winning cars all that glory pliz guys bring this giant back
Kudhura plus poor customer service yauraya OK ngavatsvage chaita musoro uteme vasingapumhe vanhu huroyi
I don't think it's mainly to do with informal traders, OK can't easily compete with informal traders when they are forced to use RBZ fictious exchange rate.
Yaaaa that true all those people selling groceries on streets ngawapihwe a hash penalty
OK is the most expensive shop in Zimbabwe. They are their own enemy. Zvimwe zvese kwakungotaurawo
zimbabwe is open for busines mochemei modurisa zvinhu zvenyu imi pls kanzuro hanty ikubadarisa zvima vending penalty hre saka ingakusopatai papi
Hatidi vanhu vanotya direct competion mu industry umo. Mirai semukono mudzikise zvinhu