*Latest trading update from OK Zimbabwe shows the dire crisis in the retail sector*: • Sales volumes over the December quarter, traditionally a strong period due to Christmas, were down 36% • OK’s shops had half their normal stock. While suppliers wanted payments in USD, just 20% of OK’s sales were in dollars, a result of ‘exchange rate distortions’ • Four OK shops in Harare closed, and other closures may follow due to high costs • OK is looking at new procurement models to restock • RBZ lifted some exchange rate controls, but a fully market-determined exchange rate is what’s needed