Economy

Closure of Spar Outlets Worries Govt

Commerce, Trade and Industry minister Christopher Yaluma has said government is working to ensure the closure of Spar outlets does not scare other chain stores nor limit competition in the retail sector.

In a statement, Mr Yaluma said in view of this unfortunate development in the retail sector instigated by the exit of Spar Zambia Limited from the economy, the government cannot underscore the importance of the need to intervene and explore robust strategies to help remedy the situation and avert potential material injury to the retail sector and the economy in general.

“We therefore call upon all concerned stakeholders to remain calm as Government through my Ministry pursue remedial measures anchored on ‘home-grown solutions for sustainability and inclusive participation’. My Ministry, through Zambia Development Agency (ZDA), has already engaged Spar Zambia and other potential investors to explore corporate finance strategies on how to manage a smooth exit of Spar Zambia from the local market. We are working smart to ensure that the closure of Spar outlets did not scare other Chain stores nor limit competition in the retail sector,” Mr Yaluma stated.
“On   behalf   of   Government,   my   Ministry   has   noted   with   dismay   the impromptu on-going closure of Spar outlets at a time when the Chain store has  grown  to  become  one  of  the  household  names  in  Zambia.  Since  its launch  through  commercial  presence  on  the  Zambian  economy  in  2003, Spar Zambia Limited has been an active player in the domestic retail sector by  providing  effective  demand for  local products  which are  marketed and sold in its outlets across the country. The Chain store is said to be one of the world’s largest retail chain operating in over thirty (30) countries. Spar Zambia Chain stores are known for providing wide variety of products which includes food and groceries, fruits and vegetables, wines and beverages, takeaway restaurants and in-store bakery section.”

He stated that given the wide range of product lines, Spar Zambia and other similar stores in the retail sector play a significant role in stimulating value-chains development, job creation and contributes to government treasury through various tax remittance.

“Spar Zambia has over the last decade of operating on the local market established an admirable brand for itself among the Zambian consumers of which typically everyone would desire to safeguard in the interest of economic stability. My   Government is therefore calling for the private sector and other stakeholders on the marketplace to seize this opportunity to promote enhanced integration of local value chains. Cooperatives are hereby being challenged to come to the fore and occupy such spaces in the economy,” Mr Yaluma stated.

“Further, my Ministry stands ready to provide the necessary support to ensure that we have more viable local Chain stores from within our communities that supports the local producers and traders. However, this calls for every business entrepreneur to embrace change of mindset especially where quality assurance is concerned and consistent supply of the target product. In this regard, I wish to implore the relevant Agencies, specifically the Zambia Development Agency (ZDA) and Zambia Bureau of Standards (ZABS), to work closely with our local suppliers to improve business linkages and enhance product quality respectively.”

He encouraged the private to take advantage of the prevailing opportunities and be innovative even in the midst of the COVID-19  pandemic so as to  remain  resilient  and  survive  the unprecedented  trajectory  that  has  affected  the  global economy,  including Zambia.

“We  must  all  take  note  that  the  time  when  the  pandemic  will disappear from  this  world  is not  yet known but  business  has  to  continue. Therefore, all business entities are instructed to adhere to the prescribed public  health  guidelines  for  combating  Covid-19  as  doing  so  the  infection and  mortality  rates  would  certainly  reduce  and  business  would  steadily return  to  normalcy.  I  urge  you  all  to  strictly  follow  the  public  health guidelines so that together we can protect one another for the benefit of our society  we  live  in  because  the  pandemic  does  not  discriminate  and  has demonstrated  the  ability  to  traverse  all  territorial  borders  and  affecting both human capital and business entities,” Mr Yaluma stated.

5 Comments

  1. Razor

    It’s not only spar. Many other chain stores like jet,Ackermann, Edgar’s, style,BBC one,food lovers, etc are either closing or have closed thanks to the PFs useless economic policies.

    Reply
    • Gabriel

      That’s a good idea although if they do so first they must cosidcon the life of people what are they going to, these people they to those companies

      Reply
  2. Danilo

    Please happy as with is economy of ours in Zambia it’s everything same companies closed industries closed outlets so how are we going to servive with is economy

    Reply
  3. Danilo

    Please helpwith is economy of ours in Zambia it’s everything same companies closed industries closed outlets so what are we going to do with is economy plus covid-19

    Reply
  4. Kalok

    Manje muzacita navo cani vi ma malls. Some of us said we should not turn the country into a huge supermarket. Si apa manje…

    Reply

Leave a Reply