The Board of Directors of OK Zimbabwe Limited ("the Board") hereby advises all its valued stakeholders that OK Zimbabwe Limited ("the Company") will delay the publication of its Audited Financial Results for the year ended 31 March 2023 which were due for publication on or before 30 June 2023. The major attributable cause of this [...]
The Company hereby provides its trading update for the quarter ended 31 December 2022. ENVIRONMENTAL OVERVIEW The trading environment in the quarter under review was characterised by episodes of high annual inflation which hovered above 200%. However, the monthly inflation rates showed signs of slowing down towards the end of the quarter as measures instituted [...]
The Board and Management of OK Zimbabwe Limited formally announce the strategic acquisition of Food Lovers Market Zimbabwe. The Company successfully concluded the acquisition of the assets and business of Talwant Investments (Private) Limited trading as Food Lovers Market in Harare’s Borrowdale and Avondale as well as Bradfield, Bulawayo. The transaction excludes the Greendale store [...]
Financial Highlights Chairman’s Statement Dear Shareholders The first half of our Financial Year (F23) witnessed a very volatile trading environment that was characterised by episodes of extreme exchange rate volatility that resulted in high inflation. The annual inflation which was recorded at 96% at the beginning of the financial year, rose to 280% at the [...]
NOTICE is hereby given that on the 20th of December 2022, the Board of Directors declared an interim Dividend Number 32 of 0.13 USD cents per share payable in respect of the qualifying ordinary shares of the company to be paid out of the profits for the half-year ended 30 September 2022. The Dividend will [...]
The Board of Directors of OK Zimbabwe Limited (“the Company”) wishes to advise all shareholders and the investing public that the Company is engaged in negotiations for a potential transaction involving the acquisition of a complementary business, which if successfully concluded may have a material effect on the price of the Company’s securities, the full [...]
ENVIRONMENTAL OVERVIEW Inflationary pressures that gathered momentum at the end of the last financial year have persisted, with month-on-month inflation for June 2022 increasing sharply to 30.7% from 21% in May 2022. Year on year inflation for the month of June 2022 was reported at 191.6%, a significant increase from 72.7% reported at the end [...]
Members are hereby advised that the following Resolutions were unanimously passed without alterations or amendments at the Twenty-First Annual General Meeting of the Shareholders of OK Zimbabwe Limited held on 28 July 2022: RESOLUTION RESULT Ordinary Business 1. Consolidated Financial Statements and Reports Adoption of Financial Statements for the year ended 31 March 2022, together [...]
MR. CHARL JOHN GONCALVES INDEPENDENT NON-EXECUTIVE DIRECTOR The Company is pleased to announce the appointment of Mr. Charl John Goncalves to the Board of Directors as an Independent Non-Executive Director with effect from 1 September 2021. Charl is a Chartered Accountant registered with the South African Institute of Chartered Accountants. He completed his articles with [...]
Chairman’s Statement Overview The country’s operating environment was relatively stable compared to the prior year, mainly on account of relaxation of Covid-19 restrictions. Official annual inflation closed the financial year at 72.7%, having declined from 240.6% for March 2021. The Reserve Bank of Zimbabwe (RBZ) foreign exchange auction platform managed to induce stability in the [...]