Simbisa Brands To Spend US$19.3M On 92 New Stores

2 years agoWed, 29 Sep 2021 15:25:09 GMT
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Simbisa Brands To Spend US$19.3M On 92 New Stores

Restaurant chain, Simbisa Brands Limited (SBL) will spend US$19.3 million on 92 new stores for its 2022 financial year as it seeks to expand.

This comes as part of the group’s efforts to decrease the impact of COVID-19 restrictions that have meant fewer trading hours for the company on a daily basis. SBL independent non-executive chairman Addington Chinake said:

The group’s focus remains on growing our footprint with 92 new stores in the pipeline in FY22 at an estimated investment cost of US$19,3 million. Of these stores, eight will be drive-thru sites in line with increased focus on diversifying the group’s customer service channels.

It was also announced that the group will continue to invest in growing the dial-a-delivery (DAD) business across all its markets leveraging on a refreshed DAD mobile application.

Other investments will include customised tech-enabled logistics management, call-centre platforms and expanded delivery zones.

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SBL also operates restaurants in Kenya, Zambia, Ghana, Mauritius, Namibia, Swaziland, Malawi, and the Democratic Republic of Congo.

During its financial year that ended June 30, 2021, SBL recorded an increase in revenue of $18.79 billion up from a 2020 comparative of $9.044 billion.

The increase is attributed to increased sales through delivery channels and aggressive cost-containment measures.

More: NewsDay Zimbabwe



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