OK Zim sees drop in US$ collections

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RETAIL giant OK Zimbabwe Limited (OK Zimbabwe) experienced a sharp decline in US-dollar (US$) collections during the first quarter, ending June 30, 2024 as consumer payment patterns shifted towards the local currency.

Since its introduction on April 5 this year, the new local currency-Zimbabwe Gold (ZWG), has been widely embraced by the market due to its relative stability when compared to its predecessor, the Zimbabwe dollar.