Zimbabwean retailer Meikles Limited welcomed government policy changes that eliminated pricing penalties tied to official exchange rates. The company believes Statutory Instrument 34 of 2025 creates fairer market conditions for formal retailers. Acting Group Chairman Fayaz King announced these developments alongside the annual financial results for the period ending February 28, 2025. The supermarket division maintains firm cash reserves to benefit from regulatory improvements. Foreign currency transactions accounted for 32 percent of supermarket sales, up from 27 percent the previous year.
Customer purchasing activity increased eight percent during recent months despite revenue challenges. Total group income fell by two percent to ZiG12.5 billion compared with the prior year's results. The company operates primarily through TM Pick n Pay supermarkets across Zimbabwe. Management plans strategic investments in mining community stores and the expansion of liquor sales. Property development projects are advancing in Bulawayo, with plans for the city's largest shopping center, featuring over 220 retail spaces.
Customer purchasing activity increased eight percent during recent months despite revenue challenges. Total group income fell by two percent to ZiG12.5 billion compared with the prior year's results. The company operates primarily through TM Pick n Pay supermarkets across Zimbabwe. Management plans strategic investments in mining community stores and the expansion of liquor sales. Property development projects are advancing in Bulawayo, with plans for the city's largest shopping center, featuring over 220 retail spaces.
