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Banks race to save teetering OK Zim...massive deal twinned with bold restructuring plan

BANKS have stepped in to rescue OK Zimbabwe Limited, one of the country’s largest retail chains, from the brink of bankruptcy.

By Shame Makoshori and Freeman Makopa Feb. 7, 2025

Banks race to save teetering OK Zim...massive deal twinned with bold restructuring plan

Tanganda drops Ernst & Young as auditors

Shareholders were then asked to appoint Ernst & Young as the auditors of the company for the ensuing financial year.

By Tatira Zwinoira Aug. 16, 2024

Tanganda drops Ernst & Young as auditors

OK Zim defies odds, posts impressive results

In its half year financial results for the period ended September 30, 2023 OK Zimbabwe said the group was awaiting the regulatory approval to remove the 10% cap.

By Belinda Chiroodza Dec. 17, 2023

OK Zim defies odds, posts impressive results

FBC hedges against Zimdollar loss

FHL group chairperson Herbert Nkala said adopting a hedging strategy mitigated the impact of the exchange rate fluctuation and sustained the group’s balance sheet.

By Blessed Ndlovu and Belinda Chiroodza Sep. 4, 2023

Tanganda remains optimistic in ‘difficult’ terrain

Profit after tax for the period rose by 24% to $1,47 billion from a 2022 comparative of $1,18 billion.

By Melody Chikono Jul. 4, 2023

Tanganda remains optimistic in ‘difficult’ terrain

Don’t take shortcuts in business

Herbert Nkala, Roy Meiring and Sean Gent were all visionaries and ahead of their teams and so we learnt how to implement and follow through on strategy. Solid leaders they were.

By Carol White Apr. 28, 2023

Currency woes: Suppliers demand cash upfront

OK Zimbabwe made the observation in interim financial results that showed its pre-tax profits rose 150% in the six months ending September.

By Rugare Mubika Dec. 25, 2022

Currency woes: Suppliers demand cash upfront

Tanganda defends turf, as Peru swamps markets

Tanganda’s profit after tax improved to $583 million during the review period, from a loss of $318 million in the previous year.

By Freeman Makopa Dec. 13, 2022

Tanganda defends turf, as Peru swamps markets

OK ramps up expansion drive

But OK chairman, Herbert Nkala, a veteran of navigating through Zimbabwe’s never ending crises, struck a defiant tone as he shared the full year financial statements with investors.

By The Standard Jun. 26, 2022