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Simbisa targets 15 new outlets

by Staff reporter
21 Feb 2020 at 05:51hrs | Views
ZIMBABWE's largest fast-food chain, Simbisa Brands Limited (Simbisa) is targeting to open 15 new outlets across the country this year, at an estimated cost of US$3 million, managing director Warren Meares has said.

Meares told NewsDay Business in an interview that as a way of further consolidating their local market share, new outlets would be opened throughout the country.

"Last year we opened 21 outlets across the country and we spent more than US$6 million. This year we have plans to open about 14 or 15 outlets. We are looking forward to spending about US$3 million on those outlets," he said.

Zimbabwe's economic environment is marked by hyper-inflation, shortage of foreign currency, acute power outages, price distortions, poor infrastructure and general economic uncertainty.

But Meares said they had confidence in the country's economy.

"Yes, drought might be a challenge but we will find ways to continue surviving," he said.

Last year the fast-food giant opened outlets in Harare, Bulawayo, Gwanda, Kadoma, Chiredzi and Gweru among others.

Simbisa operated as a business unit of Zimbabwe's largest company by revenue, Innscor Africa, before it was unbundled and listed separately on the Zimbabwe Stock Exchange in 2015.

The company operates fast-food brands such as Chicken Inn, Pizza Inn, Creamy Inn, Baker's Inn, Fish Inn, Galito's Africa, Nando's, Steers and Vida E Caffe and delivery service, Dial-a-Delivery.

Besides Zimbabwe, it also has operations across Sub-Saharan Africa, with a total of 145 counters in Kenya, Zambia, Ghana, Mauritius, Namibia, Swaziland, Malawi and the Democratic Republic of Congo.

Source - newsday
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