OK Zimbabwe enters corporate rescue as suppliers cut ties

OK Zimbabwe is fighting to survive after suppliers cut ties and stopped credit. The company’s financial situation went south fast, and now it’s under corporate rescue.

OK Zimbabwe enters corporate rescue

• The board filed for corporate rescue on 23 February 2026.
• Bulisa Phillimon Mbano from Grant Thornton is in charge.
• Suppliers stopped trading with OK Zimbabwe after cutting credit terms.
• The retail giant faces major challenges after stock shortages hit hard.

Despite US$20 million raised, confidence is still shaky

• The rights offer didn’t restore supplier trust or solvency.
• Stock shortages led to plummeting revenue and worsened cash flow.
• Debt repayments and capital expenses drained funds last year.
• The board sees potential for a comeback through valuable assets.

Corporate rescue process begins

• Notice filed on 24 February 2026 with the authorities.
• Creditors, employees, and shareholders have been notified.
• A turnaround plan will be drawn up to revive the company.