Farai Dziva| Leading South African Retailer PEP has decided to pull out of Zimbabwe after “posting record losses.”

Pep has indicated it is pulling out of Zimbabwe due to losses it has been recording in the country.

The company has recorded a shocking loss of 70 million rand (US $4.8 million) this year.

“The decision to exit Zimbabwe was based on the continued adverse macroeconomic conditions affecting trading and the weakening currency,” said Pep in a statement.