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Simbisa brands, the fast-food restaurant operator founded by Zimbabwean billionaire Zinona (“Zed”) Koudounaris, is looking to expand the number of its outlets in Kenya from 190 to 245 by mid-year.
Simbisa brands, which operates popular quick-service restaurants in Southern and East Africa such as Chicken Inn, Pizza Inn, Bakers Inn and Creamy Inn, said it plans to open the additional 55 restaurants by June this year as it struggles to maintain its leading position in the midst of aggressive competition from major players in the fast-food industry.
“Expansion of Simbisa’s footprint in Kenya remains a priority and in the six months to 31 December 2021, 26 new counters were opened in the market to close the period with 190 counters,” Simbisa brands said in a regulatory filing.
“The business is on track to achieve the pipeline target of 55 new store openings in the financial year 2022,” the filing continued.
International brands such as Domino’s Pizza, Subway, Kentucky Fried Chicken and ice cream seller Cold Stone Creamery have recently opened more stores in Kenya, as more global players in the quick service restaurant industry look to emerging markets such as Africa for growth.
Koudounaris, one of Zimbabwe’s most successful businessmen, is the founder of Simbisa brands. His 18.41-percent stake in the company is worth $60.4 million.
