Fast-food chain, Simbisa Brands Limited (Simbisa), is anticipating to expand its footprints in Zimbabwe and beyond.
The Group operates 459 restaurants and its services unbundles in countries such as Kenya, Zambia, Mauritius, Ghana and Zambia.
In a statement accompanying the financial results for the six months ended 31 December 2020, Simbisa Chief Executive Officer Basil Dionisio said although trading conditions remained restrictive in the period under review, resulting in lost counter trading hours, the impact on lost customer counts has been mitigated through promotional activities, value offerings and continued growth
“Despite economic headwinds and challenging trading conditions, the Group has remained resilient and continues to pursue a growth strategy hinged on improved deliveries, technology development, continued growth in footprint and brand development,” Dionisio said
The turnaround strategies implemented in Zambia and Mauritius have been greatly successful and these markets are now entering into a growth phase, with Namibia being its critical care market where the focus in the short term will be converting this into a franchised market.
“With the gradual easing of trading restrictions in our operating markets, we expect an improvement in trading hours and with that, a recovery in lost customer counts which will boost top line growth in the short to medium term. Considerable effort has been put into managing our cost base which has seen a considerable improvement in Group operating margins.
Thus, a recovery in revenue will translate to growth in profitability and improved Shareholder returns and value delivery,” Dionisio said.
Government has recorded an increase of farmers who have subscribed for this year’s Climate…