ZANU-PF’s Director of Information Farai Marapira Blames Poor Management for OK Supermarket Closures
ZANU-PF’s Director of Information, Farai Marapira, has placed the blame for OK Supermarket closures squarely on poor management.
OK Supermarket Faces Struggles and Branch Closures
Since last year’s festive season, OK Supermarket has faced significant challenges. The chain has struggled to meet daily demands for basic products. As a result, empty shelves have become a common sight across various branches. Recently, the supermarket officially closed five branches, including Robson Manyika, Glen Norah, Kuwadzana Express, and Mbare in Harare. The Chitungwiza Town Centre branch also shut its doors. A sixth branch is slated for closure in March.
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Economic Pressures Amplify Struggles
One of the major hurdles for OK Zimbabwe stems from restrictive monetary policies. The supermarket chain must conduct transactions at a rate close to the formal exchange rate. This rate often falls below the black market rate that many manufacturers prefer. Consequently, OK cannot offer USD discounts like smaller retailers. This limitation leads to cash flow problems, as most suppliers now demand payments in U.S. dollars. To offset losses, formal retailers must charge higher USD prices. This pricing strategy hampers their competitiveness in an already tough market.
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ZANU-PF Responds to OK Supermarket Closures
However, the Director of Information for ZANU-PF, Farai Marapira, has responded to the closure of these branches and blamed poor management for their situation. During an interview, Marapira was asked whether the government would inspire confidence in big companies like OK to prevent further closures.
He responded, saying, “Well, these companies are not closing due to the environment. These companies are closing due to their own management crisis. Why are these companies closing when we are not experiencing the food shortages of 2008? The fault lies with these companies for failing to run and manage their own businesses.”