The Board of OK Zimbabwe Limited (“the Company”) wishes to announce that Albert Rufaro Katsande, the Company’s Commercial Director, retired on 30 June 2021 bringing an end to a remarkable career spanning almost 32 years of dedicated service to the Company. Albert joined OK Bazaars which was, then, a subsidiary of Delta Corporation in 1989 [...]
Overview The operating environment for the financial year under review was affected by Covid-19, with lockdown restrictions in place throughout the period. The lockdown measures negatively impacted business through supply chain disruptions and reduced consumer disposable incomes. The Group was also unable to hold its flagship promotion, the Grand Challenge. As a result, volumes for [...]
NOTICE IS HEREBY GIVEN THAT the Twentieth Annual General Meeting of the Shareholders of OK Zimbabwe Limited will be held at the registered Company office at 7 Ramon Road, Graniteside, Harare on Thursday 29 July 2021 at 15:00 hours for the purposes of transacting the business detailed below. Shareholders will be requested to connect and [...]
HISTORICAL FINANCIAL HIGHLIGHTS Revenue up 494% to ZWL 26.9 billion EBITDA up 221% to ZWL 2.7 bilion Profit for the year up 252% to ZWL 2.0 billion Earnings per share up 245% to ZWL 1.60 Net asset value per share up 258% to ZWL 2.91 Proposed final dividend of 54 ZWL cents per share CHAIRMAN’S [...]
NOTICE is hereby given that on the 3rd of June 2021, the Board of Directors declared a final dividend (number 29) of 54 ZWL cents per share payable in respect of the qualifying ordinary shares of the Company to be paid out of the profits for the year ended 31 March 2021. The dividend will [...]
Retirement of Group Chief Executive Officer - Mr. Alex Edgar Siyavora The Chairman and Board of Directors wish to advise all OK Zimbabwe Limited Management and Staff that Mr. Alex Edgar Siyavora, the Company's Group Chief Executive Officer, will be retiring from the Company with effect from 31 March 2021. We thank him wholeheartedly for [...]
TRADING ENVIRONMENT The relaxation of Covid-19 lockdown restrictions improved the operating conditions for the business during the third quarter to December. Extension of trading hours and free movement of people resulted in increased footfall into the stores. The foreign currency auction system improved availability of foreign currency leading to relative stability of the exchange rate [...]
CHAIRMAN’S STATEMENT OVERVIEW Covid-19 was declared a pandemic and the country went into lockdown from 30 March 2020. The lockdown restrictions remained in place at different levels throughout the period under review. The containment measures affected business through limited production, supply chain disruptions, logistical bottlenecks and reduced aggregate demand. Hyperinflation, underpinned by runaway depreciation of [...]
NOTICE is hereby given that on the 19th of November 2020, the Board of Directors declared an interim dividend (number 28) of 26 ZWL cents per share payable in respect of the qualifying ordinary shares of the Company to be paid out of the profits for the period ended 30 September 2020. The dividend will [...]
TRADING ENVIRONMENT The business environment continued to be challenging due to instability in the market. The COVID-19 pandemic and the resultant lockdown measures limited trading hours and the movement of people. The reduction in operating hours disrupted production and supply to our stores as well as constrained activity in our stores. Currency depreciation resulted in [...]