{"id":72014,"date":"2023-01-05T17:07:08","date_gmt":"2023-01-05T15:07:08","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/simbisa-brands-spends-us4-5-million-on-new-outlets"},"modified":"2023-01-05T21:01:41","modified_gmt":"2023-01-05T19:01:41","slug":"simbisa-brands-spends-us4-5-million-on-new-outlets","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/simbisa-brands-spends-us4-5-million-on-new-outlets","title":{"rendered":"Simbisa Brands Spends US$4.5 Million On New Outlets"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>One of Zimbabwe\u2019s largest fast-food restaurant operators, Simbisa Brands, says it has so far spent US$4.5 million of the US$15.5 million the company aims to invest in expanding its operations.<\/p>\n

Simbisa Brands, which owns restaurant chains including Pizza Inn, Fish Inn and Chicken Inn, as well as franchises for Nandos and Steers of South Africa, plans to open 45 new outlets in 2023.<\/p>\n

The company also plans to open 30 more outlets across Africa and this brings the total capital expenditure to US$23 million.<\/p>\n

Speaking in an interview with The Herald, Simbisa Brands chief executive, Warren Meares, said the expansion programme was progressing \u201cquite rapidly\u201d in the country. He said:<\/p>\n

So far, we have spent US$4.5 million on new stores in the country and an additional US$11 million will be deployed to complete our expansion programme in the current financial year, which ends in June 2023.<\/p>\n

We are happy about the progress that we have made as we have moved quite rapidly in Zimbabwe.<\/p>\n

… At present, we have 291 stores across the country employing over 6 000 people.<\/p>\n

In December 2022, Simbisa moved from the Zimbabwe Stock Exchange (ZSE) to Victoria Falls Stock Exchange (VFEX), which trades exclusively in United States dollars.<\/p>\n

At the end of 2022, VFEX had a market capitalisation of US$411 million.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. One of Zimbabwe\u2019s largest fast-food restaurant operators, Simbisa Brands, says it has so far spent US$4.5 million of the US$15.5 million the company aims to invest in expanding its operations. Simbisa Brands, which owns restaurant chains including Pizza Inn, Fish Inn and Chicken Inn, as well as franchises for Nandos and Steers […]<\/p>\n","protected":false},"author":84,"featured_media":72013,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,500,7178,12016,19],"class_list":{"0":"post-72014","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-chicken-inn","12":"tag-simbisa-brands","13":"tag-simbisa-brands-limited","14":"tag-zimbabwe"},"yoast_head":"\nSimbisa Brands Spends US$4.5 Million On New Outlets - zimbabwe<\/title>\n<meta name=\"description\" content=\"One of Zimbabwe\u2019s largest fast-food restaurant operators, Simbisa Brands, says it has so far spent US$4.5 million of the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/simbisa-brands-spends-us4-5-million-on-new-outlets\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Simbisa Brands Spends US$4.5 Million On New Outlets\" \/>\n<meta property=\"og:description\" content=\"One of Zimbabwe\u2019s largest fast-food restaurant operators, Simbisa Brands, says it has so far spent US$4.5 million of the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/simbisa-brands-spends-us4-5-million-on-new-outlets\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-05T15:07:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-05T19:01:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/01\/postQueueImg_1672925835.23.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/simbisa-brands-spends-us4-5-million-on-new-outlets\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/simbisa-brands-spends-us4-5-million-on-new-outlets\",\"name\":\"Simbisa Brands Spends US$4.5 Million On New Outlets - 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