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 environs where the brand has recorded significant performance include the UAE reflected by a strong start to the year as it increased the amount of delivery business in quarter one from by 16 percent compared to the year-earlier period.

The fast casual dining brand is globally known for its specialisation in flame-grilled Peri-Peri chicken.

In Zimbabwe, the fast food brand is operated by Simbisa Brands through franchise agreements.

Other than Nando’s Simbisa Brands operates other fast food brands including Chicken Inn, Pizza Inn, Creamy Inn, Baker’s Inn, Fish Inn and Galito’s Africa through more than 145 outlets across several African countries.

Early this year, Simbisa unveiled that it is set to invest US$10 million in setting up to 21 new outlets across Zimbabwe as it seeks to grow the business.

Chief executive officer Warren Meares said in Zimbabwe, unveiled that Simbisa decided to discount its prices payable in US Dollars in order “to raise the foreign currency” to meet foreign “royalty fee obligations, capex and intellectual property related raw material” imports.

The Zimbabwe listed quick serve restaurant concern, which was spun off diversified consumer country Innscor, also revealed that it had cancelled the intended acquisition of FoodFund.

The firm aimed at acquiring a 50% stake in Foodfund Investments, a South African restaurant operating firm.

Simbisa also halted plans of listing in London Stock market due to economic and policy condition in Zimbabwe and the UK, which is battling with modalities for its exit from the European Union, improve and return to certainty.

“The proposed secondary listing on the London Stock Exchange Alternative Investment Markets has been postponed sine die.

The listing transaction will be re-considered when market conditions are favourable and economic policies are more certain in both Zimbabwe and the United Kingdom,” said Addington Chinake, the non-executive chairman for Simbisa.