OK Zimbabwe begins restocking as banks unlock credit

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OK Zimbabwe Limited has launched a comprehensive restocking programme after securing financial guarantees from two prominent local banks, providing the retailer with fresh access to credit facilities and renewed supplier confidence.

The guarantees have enabled major manufacturers, including Dairibord, ZimGold, Olivine, National Foods and Nestlé, to resume deliveries and replenish stocks across OK Zimbabwe’s stores.

The retailer is also reopening branches that were previously closed during its cash-flow crisis to increase customer footfall and restore its commercial presence.

The latest recovery efforts follow an agreement with major trade creditors to defer repayments on legacy debts, giving the company much-needed liquidity and operational flexibility to resume normal trading.

Corporate Rescue Practitioner Bulisa Mbano confirmed that the debt deferrals had created the necessary breathing space for the retailer to restart store operations.

While acknowledging that the turnaround remained in its early stages, management is confident the measures will help stabilise the business.

OK Zimbabwe entered corporate rescue in February 2026 after a severe financial crisis characterised by falling revenues and mounting supplier debts of more than US$30 million.

The retailer struggled to price goods in local currency while sourcing inventory in US dollars, a mismatch that severely eroded profit margins.

The rapid expansion of informal tuckshops and street vendors, which generally operate with lower overheads, also contributed to the loss of customers.

Investigations into the company’s financial difficulties revealed distress asset sales below market value and costly procurement decisions, including duplicate vehicle purchases worth more than US$560,000.

A failed US$30.5 million recapitalisation plan, coupled with delays in the sale of properties, further constrained the retailer’s ability to settle suppliers and maintain adequate stock levels.

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