Simbisa Brands opens additional branch in Zimbabwe

ZIMBABWE – Simbisa Brands, Zimbabwe’s leading fast foods chain operator, has opened a second outlet in Kwekwe, central Zimbabwe.

The branch, according to the group’s managing director, Mr Warren Mears, will run Simbisa’s Chicken Inn and Baker’s Inn units and is set to ease business at the first branch located along Harare-Bulawayo highway, reports The Chronicle.

The first branch houses Nando’s, Chicken Inn, Creamy Inn and Baker’s Inn brands and employs about 70 while the new branch is expected to create an additional 20 jobs.

 “The idea of coming up with another food outlet was in response to the complaints especially by the travelling public who could not find proper parking space at the main branch as it is located along the main road,” Mr Warren said.

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Mr Mears said plans were underway to open a third outlet in the town as the brand continues to expand in the market.

“Support in Kwekwe has been exceptional and for that reason, we are expecting to open a third branch given the overwhelming support from the Kwekwe community.

“We will continue investing in more outlets and very soon we will be opening another one in Gokwe,” he said.

Simbisa has continued to pursue its aggressive expansion plan marked by the recent successful launch of a new Nando’s outlet in Fife Avenue Shopping Centre, Harare in May this year.

The company has unveiled plans of investing upto US$10 million in setting up a total of 21 new outlets across Zimbabwe as part of its ambitions to dominate the fast food sector in the country.

As the economic reform in the Southern African country continue to take shape, Simbisa recently announced that it has slashed prices of its major products by 20 percent margins.

The move was driven by the country’s ongoing monetary and fiscal reforms that has seen the government ban the use of US dollar and other foreign currencies as legal tender.

Despite the tough economic conditions in the country, the Zimbabwe Stock Exchange-listed firm managed to lift its profit after tax more than twofold to US$16.5 million during its six months to 31st December 2018 from US$7.9m in the previous period.

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The group’s revenue during the period also increased by 44% to US$143.2 million against US$99.3 million which the group posted in a similar period in 2017.

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