OK Zimbabwe Battles Back: CEO Unveils Strategy to End Retail Crisis
OK Zimbabwe Chief Executive Officer Willard Zireva, who returned to lead the company in August 2025, has announced a comprehensive turnaround strategy aimed at reviving the struggling retail chain.
The plan was unveiled during an interview on CapitalkFM’s Business Focus Show, where Zireva described the company’s condition as “painful” and outlined a recovery roadmap built on financial restructuring, supplier engagement, and brand renewal.
Zireva, who came out of retirement to take up the role, said he found the business weighed down by debt, strained supplier relationships, and empty shelves across most branches.
“It was painful to see, because OK Zimbabwe has always been a trusted household name. But I saw an opportunity for renewal,” he said.
To address immediate financial challenges, OK Zimbabwe has raised US$20 million through a rights issue and expects an additional US$10.5 million from the sale of immovable assets.
Zireva confirmed that the capital injection has enabled the company to partially settle its debts and strengthen its working capital position.
According to The Herald, the company has reopened dialogue with suppliers and is renegotiating terms to ensure consistent product availability across its network.
“When I came back, supplier relations were strained and shelves were nearly empty. Naturally, consumer support had declined,” Zireva said.
The turnaround strategy is anchored on three key pillars.
The first is financial stability, which includes completing debt repayments, safeguarding working capital, and securing steady stock.
The second is operational excellence, focused on streamlining costs, refurbishing stores, and retraining staff to deliver world-class service.
The third pillar is transparency and governance, involving board reconstitution, tighter controls, and regular updates for investors and the market.
To reconnect with customers, OK Zimbabwe has launched a new brand theme: “OK, Moving Forward, Stronger with You.”
Zireva said the initiative reflects the company’s commitment to rebuilding public trust.
“We’re investing in community-driven promotions and customer engagement — both in-store and online,” he said.
Zireva concluded with a message of resilience and optimism, thanking suppliers for their patience and staff for their dedication.
“We are back, and we are here to stay. This is a process, and while challenges remain, the direction is positive. Every day, we see signs of renewed strength,” he said.
