The capital injection, backed by robust shareholder participation and underwriting support, comes as the retailer owed suppliersUS$30,34mas of February

The capital injection, backed by robust shareholder participation and underwriting support, comes as the retailer owed suppliersUS$30,34mas of February The rights offer, which ran fromJuly 21 to August 4, 2025, saw shareholders take up1 410 976 680 sharesworthUS$15,38m, representing76,94%of the total shares on offer The company described the offer as a crucial step towards restoring financial stability TheUS$20mcapital raise is the first phase of a broaderUS$30,5mfundraising strategy designed to pay off creditors and inject fresh capital into the business The second phase involves the sale of selected company-owned properties to raiseUS$10,5m “Proceeds from the rights offer will be applied towards partial settlement of legacy creditors, supporting the company’s working capital and capital expenditure requirements and unlocking fresh supplier support,”the retailer said The company also confirmed that it is“currently receiving and evaluating offers for the identified properties, with discussions underway to ensure that any transactions concluded are in the best interests of shareholders and are consistent with the company’s strategic objectives.” OK Zimbabwe expressed its gratitude to shareholders for their continued confidence in the business, as well as to the underwriters for their role in the successful capital raise The board reaffirmed its commitment to executing strategic initiatives aimed at delivering long-term value The capital boost comes at a time when Zimbabwe’s retail sector is facing pressure from a combination of reduced consumer spending power, high operating costs, and increased competition from both local and regional players For OK Zimbabwe, the funds offer much-needed breathing space to settle debts, stabilise supplier relationships, and reposition itself for growth Source: ZiFM Stereo All Zim News is a central hub for all things Zimbabwean, curating news from across the country so no story is missed Alongside aggregation, our team of nationwide reporters provides real-time, on-the-ground coverage Stay informed and connected — reach us at admin@allzimnews.com. Source: Zifmstereo