OK Zimbabwe Limited has announced a comprehensive capital raise initiative involving property disposals and a shareholder rights offer.
OK Zimbabwe To Sell Properties In Strategic Capital Raise
The company has identified multiple properties for potential sale, including OK Mbuya Nehanda and OK Glen View outlets, Birmingham Warehouse facility, Gweru and Malvern retail locations and various township stands in Harare and Mutoko’
Notably, several properties currently serve as collateral with financial institutions including FBC Bank, National Building Society, and CBZ Bank Limited.
Shareholder Participation Opportunity
Concurrently, OK Zimbabwe will launch a renounceable rights offer to existing shareholders, aiming to raise $20 million through the issuance of 1.83 billion new ordinary shares. The offering ratio provides 1.37 new shares for every existing share held as of July 21, 2025.
Addressing Financial Obligations
The capital injection will primarily address outstanding debts including $24 million owed to suppliers, $5.12 million in service provider payments and $880,000 in statutory obligations.
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Strategic Transformation Underway
Company leadership emphasizes these measures represent more than short-term financial fixes.
“This forms the foundation of our comprehensive turnaround strategy,” stated OK Zimbabwe. “We’re implementing bold operational and financial reforms to rebuild sustainable value for all stakeholders.”
The proposed property sales will prioritise marketability and value optimisation, with leaseback arrangements ensuring business continuity at key locations. The complete transformation plan aims to restore financial health, operational efficiency, and long-term competitiveness in Zimbabwe’s evolving retail landscape.
