Fast-food giant,
Simbisa, which operates
In its latest financial statement, the company said it completed 14 stores during the just ended financial year.
"The Group continued to grow market share in
The Group has set aside around
However, due to the biting economic environment in the country, the company expects to restrict operational costs by negotiating fixed rentals and switch to a turnover-based model to alleviate margin pressure.
"Currency volatility remains the key risk to our business' performance; management remains vigilant of the risks and has mitigated the inherent currency risk by maximizing localization of cost of sales and operating expenses and ensuring optimal pricing is achieved in local currency," the Group said.
Despite plans to open more stores locally, Simbisa which is also present in
"The Dial-a-Delivery mobile application has now been launched in four of our markets with extremely positive uptake and the balance of our 2 markets will be launched in Q1 FY2021," it said.
The strategic focus will remain on growing the delivery channel and enhance of its service offering through technology development.
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