ZIMBABWE – Simbisa Brands, a leading quick service restaurant based in Zimbabwe, has unveiled plans of investing US$10 million in setting up to 21 new outlets across the country.
According to Warren Meares, Managing Director at Simbisa Brands, the expansion plan is part of the group’s efforts to secure a wider market share in the country, report by NewsDay.
The group has embarked on the plan which is marked by its recently opened restaurants, Pizza Inn branch and second Chicken Inn branch in Gwanda, Zimbabwe, at an investment worth about US$500 000.
“Nationwide, we are targeting to open 21 branches, of which four will be opened in Bulawayo, another four in Kwekwe and another four in Kadoma.
We are, therefore, planning to invest about US$10 million into these projects.
We have said we want to add two more branches in Gwanda and we have just done it. We are excited about that,” Meares said.
Meares also revealed that the company is set to introduce new products into the market as part of its response to the changing needs of consumers.
Simbisa Brands 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 (ZSE) in 2015.
The firm has since then grown to incorporate major 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 Caffé and delivery service, Dial-a-Delivery.
The quick service restaurant has also added several appealing new casual dining brands to its portfolio including RocoMamas and Ocean Basket in Zimbabwe.
Simbisa Brands has managed to expand its business into other African countries growing its outlets to a total of 145 branches under its various brands.
Despite its business being largely centred in Zimbabwe, Simbisa Brands also has presence in Kenya, Zambia, Ghana, Mauritius, Namibia, Swaziland, Malawi, South Africa and the Democratic Republic of Congo.
In its previous financial year, the group posted a 33% increase in revenues from US$154.1million in 2017 to US$204.7 million.
Simbisa said that technological advancement is one of the strategies being adopted to intensify services as the company aims to penetrate new markets and foster established market’s presence.