FAST food group, Simbisa Brands employment has invested $15 million per year in employment costs, as it positions itself as the market leader following its unbundling from Innscor Africa.
BY MTHANDAZO NYONI
Simbisa listed on the Zimbabwe Stock Exchange last November and employs more than 2 000 workers at 200 outlets dotted around the country.
Vice-President Phelekezela Mphoko, in a speech read on his behalf by Industry and Commerce deputy minister Chiratidzo Mabuwa, at the official opening of the Chicken Inn drive through in Bulawayo last week, revealed that Simbisa was spending $15 million towards employment costs.
Vice-President Phelekezela Mphoko
The facility, the first of its kind in Bulawayo, cost the group $1,1 million according to Simbisa board chairperson, Addington Chinake.
“I have been informed that the first Chicken Inn outlet was opened in Harare in 1987 and now Simbisa Brands has 200 stores in Zimbabwe, employing 2 500 workers, with 753 employed in 64 stores in the southern region,” Mphoko said.
“I have been further informed that the company pays out close to $15 million ($14 441 451) per year to its workers. I would like to congratulate Simbisa Brands for expanding its business in Zimbabwe and in so doing creating employment and contributing to the food security of our people.”
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
The group operates its own fast food outlets in Kenya, Zambia, Ghana and the Democratic Republic of Congo as well as franchised operations in Swaziland, Lesotho and Malawi. These regional operations weighed in with $52 million in revenue in the full year 2014, while the Zimbabwean fast food business, where Innscor enjoys 82% market share, contributed $98 million.
Meanwhile, Mphoko added that due to the economic downturn, several businesses were closing down and as such sound economic policies needed to be employed to keep firms afloat.
“Therefore, when a company does what Simbisa Brands are doing, it is a good sign that with the right policies and an inclusive approach by government and the private sector, the Zimbabwean economy can and will be revived,” he said.
Mphoko challenged other companies to positively respond to the government’s call for public private initiatives, especially with State enterprises.
He said the government has been seized with improving the ease of doing business in order to make it easy for new companies to invest in Zimbabwe, while existing companies can expand such as Simbisa Brands.
He said the private sector should come on board and work with government to alleviate the serious effects of drought by taking their social responsibilities seriously.
He said the drought that has slowed down the government’s thrust towards economic recovery through Zimbabwe Agenda for Sustainable Socio Economic Transformation has to be tackled inclusively by all stakeholders that include government, the private sector and the United Nations agencies in the country.
He said it was gratifying when companies like Simbisa were forging ahead and expanding their operations.
“I have been working with the business community of Bulawayo to craft strategies of resuscitating businesses in Bulawayo so that Bulawayo can become the business hub of Zimbabwe once again,” he said.
