Simbisa Brands is planning to spend US$22 million in the coming year on 92 new branches across a number of operations.
Apparently, group revenue for June financial year grew by 23 percent to US$287 million.
Zimbabwe contributed growth of 34 percent and the region accounted for 5 percent.
According latest data, Simbisa served 24% more customers in Zimbabwe than it did in the same period of 2022.
History: The QSR Business opened its inaugural Chicken Inn outlet in Harare, Zimbabwe in 1987.
Following the opening of the original Chicken Inn, the QSR Business has expanded phenomenally with the addition of new brands and the franchising of existing brands.
In 1998 Innscor listed on the ZSE, utilising the QSR Business to spread its footprint into Africa as a diverse Pan-African operation. In the process QSR outlets were opened in Zambia, Kenya and Ghana.
Since then the QSR Business has grown to own and franchise outlets all across Africa, including Zimbabwe, Zambia, Kenya, DRC, Ghana, Malawi, Namibia, Mauritius and Swaziland.
A major factor contributing to the success of the company is the strategic and well thought out location of its outlets.
Simbisa stores can be found along busy track routes, in central business districts, in urban areas as well as food courts; all these locations ensure consistent access to large volumes of consumers.
The company is unique in that it not only owns the IPR’s of the brands within its portfolio, but also owner-operates the outlets of the QSR brands. Furthermore, Simbisa owns the master license to other successful brands such as Galito’s Africa, Nando’s (Zimbabwe only), Steers (Zimbabwe only), Rocomama’s (Zimbabwe Only) and Vida E Caffé.
On 5th August 2015 Simbisa was incorporated as a wholly owned subsidiary of Innscor.
Effective 1st October 2015 Simbisa acquired, through a scheme of reconstruction, all the assets and liabilities of the QSR Business from Innscor in exchange for 541,593,440 shares in the company.
Zwnews/ Simbisa website
