Tag: Simbisa Brands

Simbisa Brands showcases stellar performance recording triple digit rise in revenue

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ZIMBABWE – Simbisa Brands, Zimbabwe’s largest fast-food restaurant operator has reported a 101% rise in the group’s half year revenue for the period ended 31 December 2020 to ZWL 8 billion (US$22.1m) from ZWL 3.9 billion (US$10.7m) of the corresponding period in 2019. The growth in earnings was reflected in its home country Zimbabwe, recording a 44% rise in revenue mainly driven by a 56 percent increase in average spend despite customer counts falling by 7% year on year. Its overall operating profit increased by 75% while profit attributable to…

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Simbisa Brands operates at 25%, cuts down supply orders and derails expansion plan due to COVID-19

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ZIMBABWE – Simbisa Brands, Zimbabwe’s largest fast-food restaurant operator rejigs operations following the commencement of the level 2 lockdown instituted in the country in response to the rise of COVID-19 infections. In a bid to keep the virus at bay, the government of Zimbabwe has locked down the country for 30 days where only essential services such as food outlets are allowed to operate from 8am to 3pm but they should not have any sit in customers as all gatherings have been banned. To this end, the owner of Galito’s…

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Simbisa Brands reports 2% decline in full-year profit despite expanding foot-print

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ZIMBABWE – Simbisa Brands, a fast-food restaurant operator headquartered in Zimbabwe has reported a 2% decline in revenue for the year ended June 2020 to ZWL$ 9.39 billion (US$3.4 billion) from ZWL$ 9.24 billion (US$3.3 billion) registered the previous year. The decline according to the quick service restaurants operator was driven by COVID-19 business disruptions in the last quarter of the financial year. During the period under review, the company’s operating profit increased to ZWL$ 1.29bn (US$466.85 million) from the corresponding period’s ZWL$ 1.03 billion (US$372.75 million), signifying a 25%…

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Simbisa Brands ups new outlet target in Zimbabwe despite COVID-19 operational challenges

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ZIMBABWE – Zimbabwe’s leading Quick Service Restaurant (QSR) group, Simbisa Brands Limited has revised upwards the targeted number of new outlets it is set to open this financial year from 15 to 18 despite operational challenges posed by the COVID-19 pandemic. According to a report by NewsDay, the group aims to spend about US$10 million on the project, with the outlets spread across the country as a way of further consolidating their local market share. Simbisa operated as a business unit of Zimbabwe’s largest company by revenue, Innscor Africa, before…

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Simbisa Brands set to open 15 new outlets seeking to consolidate its market share

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ZIMBABWE -Zimbabwe’s Quick service restaurant (QSR) group, Simbisa Brands Limited is targeting to open 15 new outlets across the country this year, at an estimated cost of US$3 million, According to Warren Meares, Managing Director Simbisa, the move is a way of further consolidating their local market share. “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.…

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Simbisa Brands full year profits increases 134% amid economic hardships

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ZIMBABWE – Zimbabwe’s Quick service restaurant (QSR) group, Simbisa Brands Limited’s profit for the year ended June 30, 2019 jumped by 134% to US$32 million despite a decline in total customer count. Zimbabwe, which is its largest market has been going through inflationary pressures, foreign currency challenges which led to erosion of consumer spending as prices of goods and services skyrocketed. This led to the fast food giant suffering a net foreign exchange loss of ZW$2.7 million (US$7,400) as it experienced technical challenges regarding compliance with the applicable accounting standards,…

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Simbisa Brands opens additional branch in Zimbabwe

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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…

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Zimbabwe Simbisa Brands slashes prices 20% amid ongoing economic reforms

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ZIMBABWE – Simbisa Brands Limited, Zimbabwe’s leading quick service restaurants operator, has resolved to slash prices of its major products by 20 percent margins in response to the ongoing monetary and fiscal reforms. The Zimbawe Stock Exchange listed firm operates the Chicken Inn, Pizza Inn, Bakers Inn, Haefelis, Creamy Inn, Steers, Nando’s and Fish Inn brands in the country. The move follows the recent announcement by the government barring the use of US dollar and other foreign currencies as legal tender among other monetary and fiscal consolidation measures being implemented…

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Simbisa Brands partners Spanish delivery firm in online food delivery deal

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KENYA – Fast food restaurant operator, Simbisa Brands, has partnered with Spanish delivery firm, Glovo, in integrating an online food delivery platform in a bid to improve its operations. The partnership is part of the group’s growth plan which will enable convenient access of Simbisa Brands fast food offerings from its locally operated outlets including Pizza Inn, Chicken Inn, Creamy Inn and Galitos. Joseph Claver, Simbisa Brands’ head of business development, added that the move will also enable the firm increase its consumer base. “Partnering with Glovo will facilitate an…

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Zimbabwe’s Simbisa brands opens new Nando’s branch in expansion drive

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ZIMBABWE – Simbisa Brands Limited, Zimbabwe’s largest fast-food group, has opened a new branch under its Nando’s brand in Zimbabwe as it continues to pursue its US$10m expansion strategy. Located in Fife Avenue Shopping Centre in Zimbabwe’s capital and most populous city, Harare, the new branch is part of the company’s ambitions to dominate the environs, reports the Herald. Since its establishment in 1987 in Johannesburg, South Africa, Nando’s flame has grown into a global brand consisting of more than 1,200 restaurants in 23 countries on five continents. Among the…

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