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Nqobile Bhebhe, [email protected]

LEADING retailer OK Zimbabwe has reassured stakeholders of its continued viability as a business despite experiencing intermittent product supply challenges during the festive season.

The company has pledged to restore normal supply levels while working to stabilise the trading environment in collaboration with key partners.

In a statement, Group Company Secretary Mrs Margaret Munyuru said the retailer remains committed to serving its customers and contributing to the country’s economic growth.

“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,” she said.

Mrs Munyuru expressed gratitude to supplier partners, bankers, and other stakeholders for their support during a period marked 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. Simultaneously, we are working on long-term solutions to stabilize the trading environment,” she added.

Mrs Munyuru also reaffirmed the company’s commitment to transparency and open communication with all stakeholders.

“Our corporate pledge is to make happiness tangible by planting smiles on our employees, customers, suppliers, shareholders, and the communities we operate in. Should there be any updates or announcements regarding the company’s financial status, they will be communicated through appropriate channels in a timely and responsible manner,” she said.

The challenges faced by OK Zimbabwe highlight broader difficulties within the formal retail sector, which continues to grapple with competition from the growing informal economy. Calls for the formalisation of businesses have intensified as the informal sector increasingly undermines the viability of established retailers.

Major players across various sectors, including food, clothing, textiles, and footwear, have reported declining performance due to the influx of non-duty-paying imports and counterfeit goods.

Last year, Truworths, a prominent player in the textile industry, revealed that its business was struggling to compete with cheap imports priced below local manufacturing costs. Similarly, hardware shops and other formal enterprises face stiff competition from informal traders importing goods without adhering to local tax and duty regulations.

Stakeholders have urged the government to take decisive action to address the informalisation of the economy, warning that the continued growth of the informal sector risks destabilising Zimbabwe’s formal retail and manufacturing industries.