South African retailer Spar Group pulls out of Zimbabwe

Source: South African retailer Spar Group pulls out of Zimbabwe | The Financial Gazette November 17, 2016

SOUTH African retailer and wholesaler Spar Group has closed its distribution centre in Zimbabwe due to weak economic growth and will now supply independent stores from South Africa, the firm’s chief executive said on Wednesday.

“The economy was just too tough… payment issues, infrastructure issues, so it was better that we exited,” Spar Group Chief Executive Graham O’Connor told Reuters.

(Reuters)

COMMENTS

WORDPRESS: 13
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    Can’t blame them with the zpf corrupt crooks running this cesspool.

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    Morty Smith 6 years ago

    ZANU policies bear fruit again

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    chimusoro 6 years ago

    We will be making money from matollgates! we don’t need Spar.

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    Diasporan 6 years ago

    Definitely can’t blame them, the sad thing is many more South African companies will be doing the same and more jobs will be lost. Unemployment will probably rich 95% soon, with no sign of improvement because of a thieving, dead duck government.

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    Mugabeimboko 6 years ago

    Thanks to the selfish destructive zanu idiots

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    Ruredzo 6 years ago

    Last night at gym I heard the soldiers and police bosses plotting against the demos today. They plan to seal off Harare at the flyovers for Southern flowing traffic and the major roads from the Northern and Eastern entrances.
    But Bulawayo? They say Bulawayo will probably be successful because managing that region is problematic due to the sensitivities around Gukurahindi etc. They fear raising the interest of South Africa if more Ndebeles are killed or injured.
    So, one can see that South Africa has the key to Zimbabwe’s transformation. Now that their country benefits from the export into the cesspool, they may wish to keep things that way a little longer. But as their companies pull out, may be soon, we may see more than just the back patting we have become accustomed to. Yes, Zimbabwe is implementing a North Korea system of government. The military chiefs and a few “civilians” in government will continue to thrive. They will live big behind their glass and gold mansions. But put on khaki gear when they come to meet the general public.

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    ndaneta 6 years ago

    Mugabe wants to crush demonstrations yet he can’t tell people what solution he has for the problem s the country is facing . All he does is capping graduates every
    week. ndikokutonga nyika ikoko.
    this is insane! mudala wakura bvumawo! watadza bvumawo! uridofo bvumawo! how can a leader say I am a president of a countryndaneta when he does not listen to the p people?SHAME!!!!

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    Mukanya 6 years ago

    It couldn’t survive the laisse fair vendors’ bazaars created by dim-witted corrupt economic policies of ZANU PF.

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    Gono 2008 6 years ago

    kikikiki be honest Spar its tough competition from other retailers .OKmart is opening new branches and you are closing kikikiki that’s the game of business. If you have poor management you will go back home.Just focus on your high prices !

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      I used to happily buy OK stuff till last night when I opened a pack of Kefalos feta cheese bought on Friday. Imagine my shock when I saw it was rotten and the best before date of 2013 had been covered with 3 price stickers. The other time I bought two bottles of wine from them, only to find the wine had turned to vinegar! They are thieves!

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    Perhaps they could not outwit TM, PICK-N-PAY & OK

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    Doris 6 years ago

    Or perhaps they don’t want to send in produce at this moment because they will only get bond notes in payment. I mean sick around and watch the supermarkets close one by one.

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    hosiah 6 years ago

    Excellent move by Spar. Any company that depends on import and export will exit due to the looming bond toilet paper money