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Exclusive: Samsung closing down Zimbabwe office as forex problems intensify

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Techzim is reliably informed that Samsung is closing down its Zimbabwe offices.

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While this development might be as a result of its global plans to reduce its workforce, it’s impossible to ignore the fact that the economic situation in Zimbabwe has strong bearing on this decision.

It is not viable for a company like Samsung whose products are all imports to do business in a country facing the currency problems Zimbabwe has right now. It is no longer lucrative for the business since there is need for the revenues generated to fund re-stocking as well as for profits to be repatriated.

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It is increasingly clear that businesses are finding this hard to do. Earlier this week, we reported that an Apple reseller in Zimbabwe has suspended all credit and won’t guarantee prices of products anymore even after customers pre-order and prepay for the products before they’re imported.

This is also the main reason why Huawei withdrew from the country earlier this year. Techzim is informed that Samsung will only have one individual representing it in the country, an arrangement similar to Huawei’s.

Samsung’s business in Zimbabwe will be handled through distributors, partners, vendors, agents as well as franchise stores.


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13 thoughts on “Exclusive: Samsung closing down Zimbabwe office as forex problems intensify

      1. LOL that’s the best one I’ve heard yet. What kinda hitches does one get copying & pasting an article from a Word Doc to a WordPress Blog… Just admit it was a rushed job in order to break this so-called story 1st LOL

  1. Astro and gtel. The false Zimbabwean made phone are also under big threat with all those credit phones their about to go bust

  2. Thats is exactly what happens when companies fail to come up with efficient strategies to make lemoned out of the plenty lemons characterizing our economy.

    1. Please share with us the damn lemons, unemployment is at a record 95%. Only thieves and fraudsters would be happy with the status quo. The so-called president nowadays does more stammering than make sense. Whilst you may be enjoying this and feel you’re successful today, there won’t be fuel shortly because we import it too, just like electricity etc

  3. i told u kuti stop talking about the these technology stuff u kep posting and join us in our protest.look …yo kwese couldnt vene be launched…which is why i say lets jamuka.stop telling us about technology and give us your website as a platform…things economically in zim are only gonna get worse i tell

    1. This is a technology blog, there are plenty of politically oriented sites for you to make noise on. Did people come here looking for tech or politics? Open a Facebook page, and leave TechZim out of it.

  4. As I understand our government is paying tons of cash to NIKUV – I’m sure for good cause. I’ve recently heard from one of their officers Yossi Gabai, that they are working not only for the RG (Registrar General) but also at the Mukwati building dealing with the public service salaries and pensions. Maybe NIKUV would bring a solution to our country?

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