Simbisa announces 180 projects in pipeline
Fast food group, Simbisa Brands Limited, says it has a solid investment pipeline with 180 potential projects identified over the next two financial years.
These projects are expected to drive growth and unlock shareholder value.
Chief executive officer, Basil Dionisio, said Kenya and Zimbabwe are the primary growth markets in the short to medium term with focus on among others on delivery services.
“However, the group remains vigilant of new growth opportunities in existing and potential new markets and continues exploring business development options.
“Between 2022 and 2024, Simbisa Brands intends to make significant progress in firmly establishing itself as a corporate that bridges the gap for people in various communities,” he said in an update for the full year to June 30, 2022.
In Zimbabwe, the group will focus on increasing delivery capacity by scaling operations across the country by acquiring more bikes and increasing the number of call centre agents.
This will bolster delivery revenue streams for the market.
Dionisio added a strategic decision was made to transition Pizza Inn to deliver exclusively on the Dial-a-Delivery platform in Kenya, effective 1 September 2022.
“Establishing Dial-a-Delivery as the premier pizza delivery service in Kenya will allow Simbisa Kenya to continue dominating this market segment against third-party delivery services and QSR competitors through the continued growth of the Pizza Inn brand.
“It will bolster delivery revenue streams to Simbisa Kenya through the growth of Pizza Inn delivery volumes and enable improvements in service quality. In both markets, initiatives in FY2023 will focus on improving order and bike tracking, thereby reducing delivery times and improving the overall customer experience,” he said.
New store growth, improved trading hours for the Kenya market and promotional activity, resulted in a 32,8 percent increase in customers and the customer base reached a record high and grew against pre-Covid-19 trading periods (+13 percent versus customer counts recorded in FY2019).
Real average-spend increased 4,9 percent during the year under review on the back of a supportive pricing strategy and increased delivery contributions. Resultantly, revenue grew 44,3 percent versus the prior year in local currency terms and 39,2 percent in USD terms, a commendable achievement in the face of adverse trading conditions.-ebsuinessweekly
