Shelves still thin at OK Zimbabwe despite rescue
Story By Staff Reporter
OK Zimbabwe says it has begun restocking its stores, but the turnaround is still in its early stages and shoppers are waiting to see whether the shelves stay full.
The retailer entered corporate rescue in February 2026 after suppliers stopped deliveries over unpaid balances. Its debts to suppliers had grown past US$30 million, and the retailer had struggled to price goods in local currency while buying stock in US dollars.
Two local banks have since provided financial guarantees, and major trade creditors have agreed to defer repayment of legacy debts. This has allowed leading manufacturers to resume deliveries and some closed branches to reopen. Corporate Rescue Practitioner Bulisa Mbano says the deferrals have given the company breathing space, while admitting the recovery is still at an early stage.
The pressure has not eased. Last week the High Court lifted the rescue moratorium so landlord Savvas Investments could continue its lease case over the Mount Pleasant premises at 48 Bond Street. The company is also asking shareholders to approve a delisting from the ZSE at an extraordinary general meeting on November 6.
For shoppers, the question is simple: can OK keep its shelves consistently stocked? Restocking depends on supplier confidence, and that depends on the company paying for new deliveries on time. Until stock levels are steady across its branches, many customers may keep shopping at rivals and informal outlets.
