HARARE – Zimbabwe Stock Exchange listed retail giant OK Zimbabwe has approached the City of Harare seeking support as the company battles mounting operational and financial pressures that have severely affected its performance, including the issue of illegal traders operating directly in front of their outlets. Harare Mayor Jacob Mafume confirmed that he met with OK Zimbabwe Chief Executive Officer Vimbai Willard Zireva and the Permanent Secretary in the Ministry of Industry and Trade, Thomas Utete Wushe, to explore measures the municipality could take to aid the retailer’s recovery. Mafume said the company raised concerns over informal traders operating outside its outlets, a situation that has contributed to declining sales as customers opt for cheaper informal alternatives.
“We committed to addressing the issue of people trading in front of their stores. We will also continue to look at ways of further reducing licence fees,” Mafume said following the meeting. He added that the city would craft a sustainable payment plan to help the retailer settle outstanding rates owed to the council.
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