Innscor Africa Limited
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Key people | Company secretary A D Lorimer |
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Innscor Africa Limited is a focused group of light manufacturing businesses which produce a number of Zimbabwe’s iconic brands in the consumer staple and durable product space. The company is listed on the Zimbabwe Stock Exchange. The Company is incorporated and domiciled in Zimbabwe.
History and evolution of Innscor Africa
1987
First Quick Service Restaurant (QSR) branded as Chicken Inn opened on Speke Avenue in Harare.
1993
- Acquired Astra Crocodile Ranching & Shearwater Adventures
- Opened Distribution Group Africa (DGA) and started securing international agencies
1995
Acquired and commissioned a mechanised bread plant in Harare.
1998
- Acquired Capri Corporation Limited and reverse-listed Innscor on the ZSE (market cap USD70mn)
- Opened QSR outlets namely Chicken Inn, Pizza Inn, Bakers Inn and Creamy Inn in Zambia, Ghana, Kenya, Tanzania, Uganda and Mozambique
- Secured Nando’s Franchise and opened the first Nando’s store in Avondale, Harare.
1999
- Acquired Spar Eastern Region and opened SPAR branded Corporate Stores in Harare.
- Secured Steers franchise and opened the first Steers outlet at Speke Avenue, Harare.
- Acquired a new biscuit line for the Iris Biscuit business
- New packaging machine purchased for the Snacks
2000
Concluded an Innscor-Exxon Mobil deal to open Innscor branded QSR outlets in Exxon Mobil forecourts across Africa.
2002
- Opened QSR outlets in Nigeria and Senegal on Exxon Mobil forecourts
- Opened franchised QSR outlets in Malawi and Angola
- Opened the first SPAR Corporate store in Zambia.
2003
Acquired shareholding in National Foods Holdings Limited (NTFD. zw), a leading supplier of Zimbabwean FMCGs.
2004
Acquired shareholding in Colcom Holdings Limited (COLC.zw), a leading manufacturer of pork products in Zimbabwe.
2005
- Commenced construction of a third crocodile farm in Kariba
- Expanded QSR footprint into 12 African countries company-operated and 5 franchised.
2006
Increased equity in Colcom Holdings Limited (COLC.zw) to 79.64% and started consolidating Colcom into Innscor results.
2007
- Major refurbishment of the Bakery line at Simon Mazorodze Road Site, Harare
- Opened 2 additional SPAR stores in Lusaka and Livingstone, with a total of 6 stores now in operation in Zambia
- Increased the number of franchised QSR outlets in the Nigerian market.
2008
- Invested into a new Timber processing plant for our Bakaya Hardwoods business
- A new SPAR branded corporate store opened in Chawama, Zambia
2009
Acquired shareholding in Irvine’s Zimbabwe (Private) Limited, a leading Zimbabwean poultry producer.
2010
Unbundled through a dividend in-specie, the crocodile ranching operation and listed this separately on the ZSE as Padenga Holdings Limited (PHL.zw)
2011
Acquired Shepperton Road property in Harare, with space to accommodate 5 breadlines and started consolidation of Bakery operations onto one site Secured Galito’s Franchise.
2013
- Franchised Chicken Inn, Pizza Inn, Creamy Inn and Galito’s branded QSR outlets in Swaziland and Lesotho
- Grew QSR network in the Zimbabwean, Kenyan & Zambian markets
- Opened QSR outlets in the Democratic Republic of Congo (DRC)
2015
- Unbundled QSR operations through a dividend in-specie and listed it separately on the ZSE as Simbisa Brands Limited (SIM.zw),
- Acquired a non-controlling interest in a leading stock feeds business, Profeeds (Private) Limited
2016
- Acquired automotive retail business Transerv
- Started re-organisation of the Group into a light manufacturing business.
- Dispos the Group’s interest in non-core SPAR Corporate Retail stores, Distribution operations and Tourism operations of Shearwater Adventures
- Acquired a non-controlling interest in an FMCG manufacturing and down packing of basic commodities business, Probrands (Private) Limited,
Unbundled Speciality Retail businesses and listed it separately on the ZSE as Axia Corporation Limited.
2017
- The journey of the new Innscor Africa comprising of Light Manufacturing businesses begins
- Disposed SPAR Zambia Limited and The River Club.
2018
See List of Externalised Money: (March 2018) No 81.
Vision
To improve the quality of life of the customers in our chosen target markets and thereby create and unlock value for all our stakeholders. We do this by bringing access to best value consumer staple and durable goods at the lowest relative prices.
Values
- Passion for value creation
- Entrepreneurial spirit
- Leadership
- Quality in all we do
- Integrity
- Accountability
- Trust
- Collaboration
Products and Brands
- Pearlander super refined maize meal
- Gloria flour
- 3 Phase broiler feed, pet feed and stockfeed
- Pies
- Pork & Beef
- FMCG & Dairy
- Biscuits & Snacks
