Over the past financial year, OK Zimbabwe Limited (“the Company") has been experiencing significant operational and financial difficulties arising from both endogenous and exogenous factors, driven by a challenging operating environment. These challenges have impacted the Company's ability to meet its financial obligations, particularly payments to suppliers and financial institutions. The difficult operating environment has [...]
The Company has been facing operating challenges that have necessitated a comprehensive business review and restructuring aimed at enhancing operational efficiency and driving sustainable growth in a dynamic market. Accordingly, the following changes have been implemented with immediate effect: i. The conclusion of voluntary separation agreements with the following Directors: Chief Executive Officer — Mr. [...]
THE COMPANY HEREBY PROVIDES ITS TRADING UPDATE FOR THE THIRD QUARTER ENDED 31 DECEMBER 2024 OPERATING ENVIRONMENT The operating environment was largely subdued due to lower than expected consumer spend in the quarter under review. Acute local currency liquidity shortages restricted access to the much needed funding to cover working capital cycles across the formal [...]
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 [...]
Chairman's Statement Operating environment The beginning of the financial year was marked by the introduction of the Zimbabwe Gold (“ZWG”) which brought about a measure stability, lowering the rate of inflation during the first quarter. At the same time, the country’s foreign exchange auction system was superseded by an interbank foreign exchange market under a [...]
OK Zimbabwe announces the release of the analyst presentation for the half year ended 30 September 2024. Below is a summary of the financial highlights: Revenue increased by 46.58% to USD177.4 Million Profit for the Period increased by 5% to USD3.7 Million Headline Earnings increased by 5% to USD3.7 Million Basic Earnings per share increased [...]
Chairman’s Statement Operating Environment On behalf of the Board of Directors, I am pleased to present the financial results of OK Zimbabwe Limited (“the Group” or “the Company”) for the year ended 31 March 2024. The operating environment remained constrained throughout the course of the financial year characterised by uncertainties, currency fluctuations, price instabilities, high [...]
THE COMPANY HEREBY PROVIDES ITS TRADING UPDATE FOR THE FIRST QUARTER ENDED 3O JUNE 2024 OPERATING ENVIRONMENT The introduction of the new Zimbabwe Gold currency (ZWG) brought with it a measure of stability. This resulted in year on year inflation declining from 57.48% in April 2024 to 3.76% by 30 June 2024. However, the shortage [...]
NOTICE IS HEREBY GIVEN THAT the Twenty-Third Annual General Meeting of the Shareholders of OK Zimbabwe Limited will be held virtually on Thursday 29 August 2024 at 15:00 hours for the purposes of transacting the business detailed below. Shareholders will be requested to connect and attend the meeting virtually by logging onto: https://escrowagm.com/eagmZim/Login.aspx# ORDINARY BUSINESS [...]
Chairman’s Statement Operating Environment On behalf of the Board of Directors, I am pleased to present the financial results of OK Zimbabwe Limited (“the Group” or “the Company”) for the year ended 31 March 2024. The operating environment remained constrained throughout the course of the financial year characterised by uncertainties, currency fluctuations, price instabilities, high [...]