Food outlet, Simbisa Brands Limited is planning to open 38 counter openings for the second half (2H) of 2021 financial year (FY2021) as part of its growth.
The company is planning to grow through expanding its fast-food restaurants and casual dining footprint and growing market share in the existing markets.
Simbisa Brands Limited; Chief Executive Officer (CEO); Basil S. Dionisio “The expansion of the Rocomama’s brand in Zimbabwe, Zambia and Ghana as well as the launch of the Spur brand in Zimbabwe and the Ocean Basket brand in Kenya are included in the 2H FY2021 pipeline,”
“The Group remains vigilant to brand development and business opportunities in both existing and new African markets.”
Simbisa is working at recovering lost customer counts through promotions and affordable value options for customers where spending power is under pressure and to focus on driving growth in sales generated delivery channels according to the company’s Reviewed Abridged Financial Results for the Six Months Ended 31 December 2020.
“A key focus area remains on growing and improving the delivery business which is being realised through the continued development and refinement of the Dial-a-Delivery mobile application in order to enhance the user experience and with the target of growing application-related customers and orders,” Dionisio said.
“As part of the strategy to leverage technology to improve efficiencies and drive growth in the business, Simbisa is upgrading its ERP system. The scoping and design phase has been completed and the implementation of the upgrade is in progress.”
“The Group has put in place strategies to hedge against currency vulnerabilities in the Region which includes locally procuring capital expenditure, stock and expenses where possible and structuring borrowings in local-currency in all operating markets to minimise our exposure to US-Dollar obligations and therefore hedge against forex movements,” the CEO went on.
Simbisa has witnessed an increase in average spending during the six months ended 31 December 2020 according to the company’s financial results.
“There was an improvement in the operating environment as restrictions were relatively more relaxed across Simbisa’s operating markets in 1H FY2021, compared to the closing quarter of the prior financial year,” Dionisio said.
“As such, total Counter Trading Hours across the Group were down 22% in 1H FY2021, compared to a 42% loss in trading hours in 4Q FY2020.”