OK Zimbabwe begins restocking after weeks of empty shelves

Troubled retailer OK Zimbabwe has announced that it has started restocking its outlets following weeks of empty shelves and temporary closures due to macroeconomic challenges, particularly exchange rate volatility.

The retailer, one of Zimbabwe’s largest supermarket chains, was among several businesses that recently made presentations to the Parliamentary Portfolio Committee on Industry and Commerce, highlighting concerns over high taxation, erratic exchange rates, power cuts, and the increasing dominance of the informal sector.

In a trading update on Monday, OK Zimbabwe confirmed that it was working with suppliers and financial institutions to stabilize its stock levels.

"The business has begun restocking the operating units with support from supplier partners as well as financial institutions that continue to assist with short-term funding structures," the company said.

OK Zimbabwe has also introduced alternative procurement strategies, including a structured stock supply arrangement with a third party to ensure consistent product availability. The retailer said these measures were part of a broader effort to rebuild relationships with both local and foreign suppliers.

Confidence in Recovery

Despite the recent difficulties, OK Zimbabwe expressed confidence in restoring normal stock levels before the end of its financial year.

"The fortunes of the country’s formal retail sector are hinged on the stability of our exchange rate regime," the company stated, emphasizing the critical role of currency stability in maintaining a viable retail sector.

Following discussions with monetary and fiscal authorities, OK Zimbabwe acknowledged a relaxation of strict regulations on in-store exchange rate policies, which had previously hampered formal retailers.

The company also welcomed measures outlined in the recently announced 2025 Monetary Policy Statement, which introduced greater flexibility within the foreign exchange market. However, it urged authorities to provide a clearer roadmap toward a fully market-driven exchange rate system.

"Such a liberalised system will go a long way in restoring the competitiveness of the formal retail sector," OK Zimbabwe said.

As the retailer works to normalize operations, industry analysts warn that ongoing economic instability could continue to pose risks for formal businesses, which have been losing ground to the growing informal sector.