OK Zimbabwe needs $30 million fast to pay off its debts and fill its empty store shelves. It plans to ask current shareholders for money, bring in new investors, and borrow some cash from lenders. Its company secretary, Margaret Munyuru, says problems with money exchange rates and rising prices have hurt its business badly.
These issues prevented products from reaching stores when suppliers refused to send more goods because of unpaid bills. Many shelves stand empty across their locations, which means fewer sales and less money coming in. The last six months hit them hard—they couldn't even make enough to cover basic costs.
The retail chain expects to lose a lot of money when its business year ends on March 31, 2025. That's why its leaders decided it must find $30 million quickly. Without this cash boost, its financial troubles might continue or worsen.
The board believes this mix of new investor money and loans will help fix their problems. They hope paying suppliers will restart product flow to stores, bringing back customers and increasing sales. Their goal focuses on stabilizing the business after months of declining performance.
These issues prevented products from reaching stores when suppliers refused to send more goods because of unpaid bills. Many shelves stand empty across their locations, which means fewer sales and less money coming in. The last six months hit them hard—they couldn't even make enough to cover basic costs.
The retail chain expects to lose a lot of money when its business year ends on March 31, 2025. That's why its leaders decided it must find $30 million quickly. Without this cash boost, its financial troubles might continue or worsen.
The board believes this mix of new investor money and loans will help fix their problems. They hope paying suppliers will restart product flow to stores, bringing back customers and increasing sales. Their goal focuses on stabilizing the business after months of declining performance.
