OVERVIEW The operating environment continued to be unstable during the year under review characterised by shortages of foreign currency, local currency depreciation, hyperinflationary conditions and a decline in real incomes. The country also experienced widespread food shortages following the 2018/2019 drought which was further exacerbated by poor yields in the current season. In addition, the [...]
CHAIRMAN'S STATEMENT OVERVIEW The operating environment continued to be unstable during the year under review characterised by shortages of foreign currency, local currency depreciation, hyperinflationary conditions and a decline in real incomes. The country also experienced widespread food shortages following the 2018/2019 drought which was further exacerbated by poor yields in the current season. In [...]
The Board of Directors of OK Zimbabwe Limited is pleased to announce the appointment of Mrs. Keresia Mtemererwa and Mr. Tawanda Lloyd Gumbo to the Board of Directors as Independent Non-Executive Directors with effect from the 1st of June 2020. MRS. KERESIA MTEMERERWA INDEPENDENT NON – EXECUTIVE DIRECTOR Mrs. Mtemererwa is a legal practitioner by [...]
EFFECTS ON THE BUSINESS The Government of Zimbabwe gazetted the Public Health (Covid-19 Containment and Treatment) (National Lockdown) Order, 2020 through Statutory Instruments 76, 77, 82, 83 and 93 of 2020. The legislations ordered a lockdown for a period from 30 March 2020 to 17 May 2020 during which the movement of people is restricted. [...]
TRADING ENVIRONMENT The business conditions have remained unstable and challenging characterized by a depreciating local currency, severe power shortages, product supply challenges and significant increases in operating costs. Erratic supply of electricity necessitated increased use of alternative sources of power in order to minimize disruptions to the Group's operations. The extensive use of generators to [...]
CHAIRMAN'S STATEMENT OVERVIEW The trading environment became progressively more unstable towards the end of the six months to 30 September 2019. The country reintroduced the Zimbabwe Dollar (ZWL $) as the sole currency at the end of June 2019 and discontinued the use of multi-currencies in local transactions and settlement. The ZWL $ has depreciated [...]
NOTICE is hereby given that on the 13th of November 2019, the Board of Directors declared an interim dividend (number 26) of 4 ZWL cents per share payable in respect of the qualifying ordinary shares of the Company to be paid out of the profits for the current financial year. The dividend will be payable [...]
TRADING ENVIRONMENT The trading environment became progressively more unstable towards the end of the six months to 30th September 2019. The country reintroduced the Zimbabwe Dollar (ZWL) as the sole currency at the end of June 2019 and discontinued the use of multi-currencies in local transactions and settlement. The ZWL has depreciated markedly since its [...]
NOTICE IS HEREBY GIVEN THAT the Eighteenth Annual General Meeting of Shareholders of OK Zimbabwe Limited will be held in the OKmart Functions Room, First Floor, OKmart, 30 Chiremba Road, Hillside, Harare on Thursday 25 July 2019 at 15:00 hours for the following purpose: ORDINARY BUSINESS 1. CONSOLIDATED FINANCIAL STATEMENTS AND REPORTS To receive, consider [...]
Chairman’s Statement OVERVIEW While the first half was relatively stable, the operating environment became more challenging in the second half of the financial year. The fiscal and monetary policy pronouncements in October 2018 affected confidence in the market among holders of ZWL balances and bond notes and triggered panic buying of goods to retain value [...]