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QUICK-SERVICE RESTAURANTS

Zimbabwe-based Simbisa Brands plans to open 92 new outlets this year

By our News Team | 2023

In the short to medium term, the primary growth markets will be Kenya and Zimbabwe, company advises its shareholders.

Simbisa Brands Limited, the Zimbabwe-based quick-service restaurant group, recently announced that it plans to open 92 new outlets in the coming year at a total cost of around US$22-million.

 

The company’s QSR brands include Nando’s, RocoMamas, Steers, Chicken Inn, Pizza Inn and Ocean Basket. It operates primarily in Zimbabwe, but also in Kenya, Zambia, Ghana and Mauritius.

Quick-Service Restaurants

Photo credit: Simbisa Brands

“Simbisa Brands Limited sees significant growth opportunities in its largest markets for its flagship brands,” the company’s Chairperson, Addington Bexley Chinake, said in a statement for the 12 months ended June 30, 2023.

 

“The group has invested in talented leaders to lead these brands and has recruited skilled personnel to ensure quality, consistency, and innovation within its franchising division.”

 

He added: “Additionally, the company is exploring value-creating initiatives with partners throughout its value chain. These strategic moves aim to fuel further growth and expansion for Simbisa Brands Limited. There will be a continuous strategic review of operations in all the smaller markets.”

 

Certain business headwinds remain

 

Although Simbisa is on a growth path and sees significant potential for its brands, it concedes its business was affected by soaring inflation, volatile exchange rates, uncertain economic policies, and energy deficiencies during the period under review.

 

Consequently, several underperforming outlets were closed during the previous financial year and a further nine outlets, representing “non-core brands” are to be closed this year.

 

“In the short to medium term, the primary growth markets will be Kenya and Zimbabwe,” Chief Executive Officer, Basil Dionisio, said. However, Simbisa remains vigilant of new growth opportunities in existing and potential new markets and continues exploring business development options.”

 

Simbisa is a major fast-food player in African markets and is owned by Innscor Africa, a light manufacturer of fast-moving consumer goods operating from Harare.

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.