OK Zimbabwe Suspends Salaries As Workers Face Uncertain Future
Workers at OK Zimbabwe face an uncertain future after the retail giant confirmed the temporary suspension of salaries and wages as part of its ongoing corporate rescue process. The company said the move would take effect from May 2026 while efforts are made to stabilise operations and return the business to profitability.
The decision was contained in a resolution signed in Harare on 22 May 2026 by representatives of the Joint Works Council and corporate rescue practitioner Bulisa Mbano of Grant Thornton.
OK Zimbabwe Explains Salary Suspension
The resolution stated that the company’s board held an urgent meeting on 23 February 2026 to assess the retailer’s worsening financial position.
The statement read:
“After deliberations, the Board of Directors unanimously adopted a resolution in terms of provision of Section 122 of the Insolvency Act [Chapter 6:07] for the Company to voluntarily begin corporate rescue proceedings.”
The company added that it was placed under corporate rescue on 24 February 2026.
“The Company was placed under Corporate Rescue and Mr. Bulisa Mbano of Grant Thornton (Zimbabwe) was appointed as Corporate Rescue Practitioner.”
The Joint Works Council said the salary freeze was part of efforts to rescue the struggling retailer.
“Pursuant to the corporate rescue proceedings of the OK Zimbabwe Limited, with the key objective of turning around the business and placing it back onto a profitable path, we have decided to suspend the Company’s payroll and compensation structure.”
The statement also explained why the drastic measure had been adopted.
“The suspension decision is an attempt to stabilize the business enroute to full recovery and mitigate the impact of current poor performance and revenue.”
The company further stated:
“The Company has agreed with its staff to suspend all salaries and wages with immediate effect and will, therefore, not be running any payroll beginning the month of May 2026 until further notice.”
Officials admitted the move would be painful for workers.
“This is a difficult and uncomfortable measure but a necessary intervention in our efforts to turn around the business.”
Zimbabweans React Online
The development sparked widespread debate after posts shared by Zimpricecheck circulated online on 24 May 2026.
@MatekoSharman wrote:
“Appalling! I’m more worried if there is any legal basis for this.”
@manu_sithole added:
“Workers reps signed, so workers were consulted and agreed to this Hobson Choice.”
Another X user, @euclasville, commented:
“The short version is varikuudza vanhu kuti resign (they are telling people to resign).”
The post Shock As OK Zimbabwe Suspends Worker Salaries During Corporate Rescue appeared first on iHarare News.
