OK Zimbabwe Limited has suspended salaries and wages for employees with immediate effect as the supermarket chain intensifies efforts to stabilise operations under corporate rescue proceedings.
HARARE - OK Zimbabwe Limited has entered corporate rescue after its US$30.5 million recapitalisation plan failed to close a critical funding gap, leaving the...
HARARE - OK Zimbabwe Limited has reconstituted its board as part of a wider turnaround effort, announcing the retirement of long-serving chairman Herbert Nkala and the appointment of five new non-executive directors including Kudakwashe Tagwirei's personal assistant Everton Mlalazi, amid ongoing liquidity and operational pressures.
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 - OK Zimbabwe Limited, the country’s largest listed retail supermarket group, is facing mounting pressure to dispose of several key properties in order to service loans amounting to US$24 million, but progress has been slower than expected, delaying the company’s wider turnaround strategy.
HARARE - OK Zimbabwe's audited results for the year ended 31 March 2025 show a deepening loss and a sharp fall in revenue, amid a qualified audit opinion arising from currency translation issues and unresolved inventory verification concerns.
HARARE - OK Zimbabwe Limited, a leading retail supermarket group, is navigating a massive financial crisis, with the market value of its properties pledged as collateral, totaling US$19.58 million, failing to cover the very loans they are meant to secure, which stand at US$23 million.
HARARE - Choppies Enterprises Limited, the Botswana-based retail giant, has experienced mixed financial outcomes since exiting Zimbabwe in December 2024, reflecting both challenges and ongoing focus on core markets.
HARARE - Zimbabwe Stock Exchange listed retail giant OK Zimbabwe Limited has successfully raised US$20 million from its renounceable rights offer, achieving a 100% subscription rate.
