OK Zim reserves Byo branch closure decision

RETAIL giant OK Zimbabwe, plans to reopen its Entumbane branch, which it closed early this year, and convert the outlet into a wholesale business with lower operating costs.

The branch experienced stock-outs during the third quarter ending December 31, 2024, which reduced product availability to around 50 percent of normal stocking levels.

The giant retailer, Zimbabwe’s largest retail chain, with 67 branches across the country, cited a tough trading environment and debt constraints for the stocking challenges.

Group company secretary Mrs Margaret Munyuru told a Parliamentary Portfolio Committee on Industry and Commerce that toured the Entumbane shopping complex recently that with the support of the Bulawayo City Council, the company was reversing the decision to close the branch.

However, it indicated the branch would not continue as a retail business, but would be converted to a wholesale operation.

“The last time we met, we referenced the closure of a supermarket in the Bulawayo Matabeleland region, OK Entumbane”, and “I’m very happy to say that we have reversed that decision with the support of “Bulawayo City Council.

“We are now converting the supermarket into a wholesale facility,” said Mrs Munyuru.

“We have received confirmation that they will support us with the wholesale license so that we can transform our operations from a traditional supermarket into a wholesale facility that operates at a lower cost than the ordinary supermarket that we traditionally do.”

Mrs Munyuru said the retailer would assess the entire estate to find ways to reimagine the premises to optimise and utilise it in a manner that helps revive the business, give it fresh relevance, and improve demand from the market.

The Parliamentary Committee on Industry and Commerce, which is conducting nationwide tours to evaluate business conditions across the country and engage directly with retailers to understand their challenges, toured OK Zimbabwe’s outlets in Harare on Tuesday.

Mrs Munyuru told the parliamentary committee led by Zaka South Member of Parliament Clemence Chiduwa that the firm was now recovering.

“We have already started restocking. A few weeks ago, even a month and a half ago, you would have noticed that even Mazoe was missing from the shelves. The shelves are now filling up,” she said.

Last month, OK Zimbabwe rehired former chief executive officer Mr Willard Zireva to lead the retail group to lift it from its current operational challenges, which saw the company closing five branches.

The return of Mr Zireva followed the departure of three senior executives

The Entumbane community expressed joy after hearing that the supermarket would be reopened, albeit only as a wholesale business.

The Entumbane community has expressed joy following news that OK would reopen the Entumbane branch, as its closure had various implications.

They said the availability of supermarkets in different townships and suburbs assists in bringing services closer to the people, reducing the expenses of going into the central business district.

Mr Edington Virimayi from Makhandeni B said following the closure of OK’s Entumbane branch, the residents had to travel to town for shopping and other services, which OK Zimbabwe offered.

“The closure of Ok affected the community, we used to collect money here from our relatives abroad since the shop had World Remit, Mukuru, and other money transfer services, but now we are forced to go to town,” said Mr Virimayi.

“Even buying groceries, OK used to offer better prices compared to other shops here in the suburbs, the supermarket accepted both US dollars and ZiG, which made it easy for us, so the closure made our lives expensive. We also used to pay our bills, like buying licenses, electricity, and other things here, it’s now difficult for us, so we appeal to the company to reconsider their decision.”-ebsinessweekl