US$19,3m to add 92 new Simbisa branches

04 Nov, 2021 - 00:11 0 Views
US$19,3m to add 92 new Simbisa branches

The Chronicle

Oliver Kazunga, Senior Business Reporter
QUICK service food chain, Simbisa Brands, has maintained a strong footprint across Zimbabwe with a total of 234 outlets and plans to spend an estimated US$19,3 million under its expansion drive in 2022 in the country and Sub-Saharan Africa.

The planned capital expenditure would be spent on 92 additional outlets across the region. The food chain also has operations in Kenya where it operates a total of 168 outlets, Zambia (32), Ghana (23), Mauritius (16) and Namibia (six).

Simbisa Brands operates Chicken Inn, Pizza Inn, Creamy Inn, Bakers Inn, Fish Inn, Nandos, Steers, and Galitos. In its 2021 annual report, the fast-moving consumer goods (FMCG) group said it sees its operating markets adjusting to the new normal brought about by the Covid-19 pandemic.

“As we see our operating markets adjusting to the ‘new normal’ trading environment, with an easing in restrictions and a recovery in trading capacity, the intention is to accelerate growth in our footprint whilst still ensuring strong organic growth and recovery in our existing business,” said Simbisa.

“The group’s focus remains on growing our footprint with 92 new stores in the pipeline in the financial year 2022 at an estimated investment cost of US$19,3 million.”

According to the group, of the planned new investments, eight will be Chicken Inn Drive Thrus in line with increased focus on diversifying the group’s customer service channels.

Recently, Simbisa announced intentions to invest as much as US$10 million in its retail outlets expansion in Zimbabwe as it seeks to consolidate its market share in the fast-food segment.

Locally, Simbisa, which listed on the Zimbabwe Stock Exchange in November 2015, has announced plans to add at least 40 outlets in the medium term, 15 of them in Harare.

The group will also target outlets along main highways particularly Bulawayo, Mutare, and Masvingo roads. The group operated as a business unit of Zimbabwe’s largest company by revenue, Innscor Africa, before it was unbundled and listed separately on the ZSE in 2015.  – @KazungaOliver.

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