State engages Spar on smooth exit

GOVERNMENT has engaged Spar Zambia and other potential investors to explore corporate finance strategies on how to manage a smooth exit from the local market.
Spar Zambia Limited recently closed its retail outlets across the country after operating in Zambia for over 16 years.
“The decision by Spar Zambia Limited is being actualised at the time when countries globally have been adversely affected by the COVID-19 pandemic. As Government, we are alive to the fact that the pandemic has abruptly caused distress to most business entities and this has impacted negatively to their profitability,” Minister of Commerce, Trade and Industry Christopher Yaluma said yesterday during a press briefing.
Mr Yaluma said Government cannot underscore the unfortunate development in the retail sector instigated by the exit of Spar Zambia from the economy arguing that there is need to explore robust strategies to remedy the situation and avert potential material injury to the economy. CLICK TO READ MORE

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