OK Zimbabwe tells govt working surroundings is simply too risky – Nehanda Radio
OK Zimbabwe Limited, one of many nation’s main retail chains, is dealing with intermittent product provide challenges, affecting its operations.
The firm was responding to footage extensively shared on social media exhibiting empty cabinets in considered one of their supermarkets in Chiredzi.
The Zimbabwe Stock Exchange listed firm acknowledged the difficulties, citing a risky working surroundings that has impacted your entire formal retail sector.
Despite the challenges, the corporate assured stakeholders that its shops stay open for buying and selling, and it continues to serve prospects and contribute to Zimbabwe’s financial progress.
“We guarantee all stakeholders, together with prospects, shareholders, staff, and companions, that our shops are open for buying and selling.
“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,” the corporate said.
“We are grateful to our provider companions, bankers and different stakeholders for his or her assist at a time when the Company, in addition to many of the formal retail sector, has been adversely impacted by a risky working surroundings.
“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.”
Meanwhile, OK Zimbabwe’s struggles replicate the broader challenges dealing with Zimbabwe’s retail sector, which has been impacted by financial volatility worsened by the endless foreign money disaster.
Last yr, OK Zimbabwe’s CEO, Max Karombo, overtly expressed to the federal government that the retail sector was being adversely affected by the surge in casual merchants who weren’t topic to taxation.
His sentiments, nonetheless, attracted vehement criticism from Treasury Permanent Secretary George Guvamatanga, who advised that Karombo and his staff ought to be relieved of their duties as OK Zimbabwe’s management.
Despite the backlash, OK Zimbabwe remained resolute, even threatening to stop operations late final yr. Several retail corporations have since been compelled to close down, together with Food World and Choppies Zimbabwe, amongst others.