OK Zimbabwe Rejects Collapse Rumours
Images of empty shelves at OK Zimbabwe Limited stores circulating on social media recently sparked rumours of the company’s imminent collapse.
However, in a statement released on January 10, 2025, Group Company Secretary Margaret Munyuru dismissed these claims as false.
While acknowledging some product supply challenges during the recent festive season, Munyuru affirmed that OK Zimbabwe stores remain open and operational.
She said the company is actively working with suppliers and key stakeholders, including industry associations and regulators, to restore normal supply levels and stabilise the trading environment. Read the Statement by OK Zimbabwe Limited below:
It has come to our attention that there has been a surge of frenzied and speculative commentary circulating on social media platforms regarding the viability and going concern status of OK Zimbabwe Limited (“the Company”).
We assure all stakeholders, including customers, shareholders, employees, and partners, that our stores are open for trading.
Although the Company faced intermittent product supply challenges during the festive period, we continue to serve our loyal customers and contribute to the economic growth and development of Zimbabwe.
We are grateful to our supplier partners, bankers and other stakeholders for their support at a time when the Company, as well as most of the formal retail sector, has been adversely impacted by a volatile operating environment.
We are actively engaged with our suppliers, and key stakeholders, including industry associations and regulators, to restore supplies to normal levels whilst working on solutions that stabilize the trading environment.
We are committed to transparency and open communication with all stakeholders. Our corporate pledge is to continue to make happiness tangible by planting smiles on our employees, customers, suppliers, shareholders and the communities we operate in.
Should there be any official updates or announcements regarding the Company’s financial status, they will be communicated through the appropriate channels in a timely and responsible manner.
We appreciate the continued support and trust of our stakeholders and look forward to serving you with excellence as always.
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