HARARE
–
OK
Zimbabwe
Limited
is
working
to
restore
normal
stocking
levels
before
the
end
of
the
financial
year
through
new
procurement
models
and
support
from
supplier
partners
and
financial
institutions,
the
retail
giant
said
in
a
trading
update
on
Friday.
“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,”
said
Group
Company
Secretary
Margaret
Munyuru
in
a
trading
update.
“New
alternative
procurement
models
have
been
developed
which
include,
but
are
not
limited
to,
a
structured
stock
supply
arrangement
with
a
third
party
for
supplier
assurance
purposes.”
The
company
said
the
fortunes
of
Zimbabwe’s
formal
retail
sector
are
tied
to
exchange
rate
stability.
“Consultations
with
both
Fiscal
and
Monetary
Authorities
have
led
to
a
relaxation
of
the
very
strict
policing
of
applicable
in-store
exchange
rates,”
Munyuru
said.
OK
Zimbabwe
welcomed
the
recently
announced
monetary
policy
measures,
which
removed
some
limitations
and
introduced
greater
flexibility
in
the
foreign
exchange
market
but
called
for
“absolute
clarity
on
the
roadmap
towards
a
full
market-determined
exchange
rate
system.”
OK
Zimbabwe
reported
a
36%
decline
in
revenue
for
the
third
quarter
ended
31
December
2024,
attributing
the
drop
to
subdued
consumer
spending,
currency
devaluation,
and
supply
chain
disruptions.