Retail giant OK Zimbabwe says sales volumes over the December quarter, were traditionally strong due to the festive season, but went down 36 in the first quarter 2025.
In an update just released the retail giant said stores had half their normal stock.
Apparently, while suppliers wanted to payments in USD, just 20% of OK’s sales were in dollars, a result of ‘exchange rate distortions’
• 4 Stores in Harare closed, and other closures may follow due to high costs.
• OK is looking at new procurement models to restock
• RBZ lifted some exchange rate controls, but a fully market-determined exchange rate is what’s needed.
Zwnews
