OK Zimbabwe Limited is a leading supermarket retailer listed on the Zimbabwe Stock Exchange.
Who Is OK Zimbabwe Limited?
OK Zimbabwe Limited has been in existence since 1942, and has established itself as a customer-oriented retail organization providing comprehensive access to a broad range of retail products and allied services developed in response to its customers' requirements for convenience and value.
We Have A Long History
OK Zimbabwe Limited was first incorporated as Springmaster Corporation in 1953, and in 1984, its name was changed to Deltrade Limited which then subsequently changed to the current name in July 2001.
The inaugural branch was opened at OK First Street Harare (then Salisbury) in 1942 and the second branch in Bulawayo in 1952. A further five outlets had been opened across the country by the end of 1960. In 1977, Delta Corporation acquired the business operations in Springmaster Corporation (now OK Zimbabwe Limited), which they held until the de-merger in October 2001.
Business Operations
The Group is a leading supermarket retailer whose business covers three major categories, comprising groceries, basic clothing and textiles and houseware products. The groceries category includes dry groceries, butchery, delicatessen, takeaway, bakery, provisions and fruit and vegetable sections.
OK Zimbabwe Limited trades under three highly recognised brand names, OK Stores, Bon Marche’ Stores, and OKmart. The diversified distribution channel allows the Group to target all segments of the market. In this regard, the Group has specifically profiled its stores in terms of design, product range, services and other offerings in a way that effectively caters for the specific requirements in the low, middle and high income consumer categories.
OK Zimbabwe Limited has maintained its position as one of the dominant supermarket retailers in the country’s competitive retail sector, despite the effect of liquidity constraints and low disposable incomes. The Group has developed its own brands through the Bon Marche’ Premier Choice and Shopperschoice labels.
What Differentiates Us
OK Zimbabwe Limited has maintained its position as one of the dominant supermarket retailers in the country's competitive retail sector. The Group has developed its own brands through the Bon Marché Premier Choice and Shopperschoice labels.
Main Categories
The Company is a leading supermarket retailer whose business covers three major categories:
Groceries:This includes the following sections:-
Dry groceries
Butchery
Delicatessen
Takeaway
Bakery
Provisions
Fruit and vegetables
Basic clothing and textiles; and
Houseware products.
**Another specialist area is school wear.
Main Brands
OK Zimbabwe Limited trades under three highly recognised brands, namely:
OK Stores
Bon Marché Stores
OKmart Mega Stores
Branch Network
All operations are carried out through a nationwide branch network which currently comprises:
52 OK Stores
8 Bon Marche’ Stores
8 OKmart Mega Stores
In February 2011, OK Zimbabwe Limited acquired the two Makro operations in Zimbabwe comprising of 8,000m2 of retail space in Harare and 5,000m2 in Bulawayo. A new brand store, OKmart, opened following a re-branding campaign. There are now 8 OKmart Mega Stores in Harare, Bulawayo, Gweru, Kwekwe, Masvingo, Mutare, Victoria Falls and Chivhu.
OKmart has at least 20 departments including sport, outdoor and camping, hi-tech, butchery, clothes and textiles, DIY, stationery and general groceries. The rebranded store also has a coffee shop and the Harare outlet boasts of 300 bays of parking space.
OK’s diversified distribution channel allows the Company to target all segments and the Company has specifically profiled its stores in terms of design, product range, services and other offerings in a way that effectively caters for the specific requirements in the low, middle and high income consumer categories. OK Zimbabwe Limited has maintained its position as one of the dominant supermarket retailers in the country’s competitive retail sector, despite the effect of liquidity constraints and low disposable incomes.
The Company has its own high-quality in-house brand label – Shopperschoice which has products that are found in all of OK Zimbabwe’s store brands.
Structure And Ownership
The Group is a leading supermarket retailer whose business covers three major categories, comprising groceries, basic clothing and textiles and houseware products. OK Zimbabwe Limited trades under three highly recognised brand names, OK stores, Bon Marché stores, and OKmart stores.
Main Operating Units
KEY FACTS
52 outlets nationwide
Hosts the largest retail promotion in Southern Africa
KEY FACTS
8 stores in Harare
Hosts health & wellness activities: Walk-A-Robix, Ultimate PowerWalk and Biggest Loser Challenge
KEY FACTS
8 mega stores nationwide
Over 35 000 product lines
OK Stores
The OK Stores brand boasts 52 outlets nationwide in the major towns and cities around the country. The OK Stores cater for the widest range of customers within the OK Zimbabwe stable. The up-market clientele being catered for by branches in the low density suburban areas and some city centre locations in key cities. The Harare city centre stores cater mainly for the middle income band and are planted strategically on route to various public transport locations. The mass market is catered for the large number of stores located in various low density suburban areas.
The OK Stores are undergoing a refurbishment programme, which management believe is essential to improve ambiance, refresh facilities and enhance the equity of the OK store brand.
The OK brand boasts the largest retail promotion in Southern Africa in the OK Grand Challenge Jackpot Promotion, which is run annually between April and June.
The promotion caters for and excites all market segments. The OK Grand Challenge was awarded the Retail Promotion of the Year Award by the Marketing Association of Zimbabwe in 2011, and the Superbrand Exceptional Promotional Campaign for 2014.
OK Stores: Harare: Ardmbare, Avonlea, Budiriro, Chitungwiza, Fife Avenue, First Street, Glen Norah, Glen View, Houghton Park, Julius Nyerere Way, Kuwadzana Main, Kuwadzana Express, Kwame Nkrumah, Mbuya Nehanda, Mabelreign, Mabvuku, Machipisa, Malvern, Marimba, Mbare, Mufakose, Queensdale, R. Manyika, Seke Makoni, St. Mary’s, Third Street, Waterfalls and Sanganayi.
Bulawayo: Entumbane, Jason Moyo and Lobengula.
Other: Bindura, Chegutu, Chinhoyi, Chipinge, Chiredzi, Gwanda, Gweru, Hwange, Kadoma, Karoi, Kwekwe, Marondera, Masvingo, Mutare, Ngezi, Norton, Rusape, Triangle, Victoria Falls, Banket and Zvishavane.
Bon Marché Stores
OKmart Mega Stores
Strategy
Opportunities for growth exist and emanate largely from economic recovery and increased disposable incomes. Following its recapitalization, OKZL is in a position to increase trading capacity and regain its market share.
Store upgrades and expansion continue in order to improve customer convenience and increase brand loyalty. The Company continues to implement strategies to increase market share while containing costs in order to maintain and grow shareholder value.
What We Offer
Through a total of 68 operating stores dotted across the country, OK Zimbabwe offers a wide array of products and services.
Our Key Products And Services
KEY FACTS
Access to cash beyond banking hours
Send money securely
No bank charges and no hidden costs
KEY FACTS
Access to cash beyond banking hours
Send money securely
No bank charges and no hidden costs
KEY FACTS
A 6-week celebration of Bon Marché
Hundreds of lifestyle prizes over the festive periods
OK Shop Easy
The OK Shop Easy facility is a shopping facility that enables the customer to shop without cash. It is a shopping voucher card which works the same way as a debit card. In other words, the customer loads his or her money onto the card and draws down from it as they transact.
The Shop Easy Card ensures that:
you have no change worries when you shop;
you can access cash beyond banking hours through our cashback facility;
you can send money to family securely by crediting their Shop Easy account;
you can send children to boarding school secure in the knowledge that their groceries can be replenished through the Shop Easy facility;
you can access all these at any of our branches nationwide with no bank charges and no hidden costs.
Simply put, OK Shop Easy offers convenience in one little card.
The Bon Marché Card
The Bon Marché Liv' it up Fiesta
Giving Back To The Community
OK Zimbabwe's pledge and commitment is to ensure that the Group continues to invest back into the communities it serves and operates in.
Our Key CSR Initiatives
The Group’s flagship CSR initiative which involves establishing tree nurseries within all the provinces of Zimbabwe – excluding Harare and Bulawayo – saw us setting up four (4) additional nurseries in 2015. OK is involved in the celebration of World Tree Planting Day, held annually on the first Saturday of December each year.
OK Zimbabwe is actively involved in sponsoring or donating to causes in the areas of health, education, students’ employment, charities, sports and the environment. Children’s Homes, Old People’s Homes, Hospice Centres and Disabled People’s Associations are amongst the beneficiaries of OK Zimbabwe’s Social Responsibility efforts.
Through its 68 branches, OK Zimbabwe Limited is involved in various local community activities. The branches are proud to be able to make a positive contribution to the communities in which they operate.
Below are some of our key social investment programmes:
Health And Safety
Education
Training
The Company continues to provide both preventative and curative health delivery services to its employees. Outreach programmes to family members of the sick and bedridden employees revealed a growing need for generic as well as systematic counselling services, which were provided through professionals.
Principles Of Corporate Governance
The Board is committed to the principles of good corporate governance and best practices, which endorse a culture of business ethics, openness, transparency, integrity and accountability in its dealings with all stakeholders.
Key Governance Parameters
The primary objective of any system of good corporate governance is to ensure that Directors, executives and managers, to whom stewardship of companies is entrusted by the shareholders, carry out their responsibilities faithfully, effectively and efficiently.
The Group’s structures, operations, policies and procedures are continuously assessed and updated for compliance with the law and generally accepted standards of good corporate governance.
Ethics
Directors and employees are required to observe the highest ethical standards, ensuring that business practices are conducted in a manner which, in all reasonable circumstances, is beyond reproach. In this regard, the Group has a detailed code of ethics for all levels of employees.
In line with the Zimbabwe Stock Exchange listing requirements, the Group observes a closed period prior to the publication of its interim and year-end financial results, during which period Directors, officers and employees may not deal in the shares of the Group. Where appropriate, this restriction is also extended to include other sensitive periods.
Equal Opportunity
Employee Participation
Safety, Health And Environment
Board Committees
In line with principles of good corporate governance, the Company constituted two permanent Board Committees to assist the Board in the discharge of its responsibilities as described below:-
Audit Committee
Remuneration Committee
The Committee consists of three Non-Executive Directors and the Chief Executive Officer, with the Finance Director attending as ex-oficio. The internal and external auditors attend the meetings and have unrestricted access to the Chairman of the Committee. The Committee meets at least twice a year.
The function of the Audit Committee is to advise the Board on all matters relating to corporate governance and regulatory issues. In particular, it monitors financial controls, accounting policies, accounting systems and assesses the processes of identifying, monitoring and managing business risks. The Audit Committee monitors the Internal Audit Charter, plans, programs, reports and recommends the appointment of external auditors.
View committee membership