South African group Famous Brand plans to open 48 new restaurants in Africa
The South African food group Famous Brand plans to open 48 new points of sale in sub-Saharan Africa outside of South Africa, we learned from a communication made to its investors on May 30, 2016. It plans to do better than in 2015 when it opened 33 points of sale and in 2014 when 47 points of sale had been opened.
The group’s expansion in sub-Saharan Africa was marked in 2015/2016 by the arrival of its Debonaire Pizza branch in Ethiopia, encouraged by the good level of demand. Famous Brand also arrived in Angola, through the opening of 4 restaurants, in a joint venture with Shoprite Chekers. Finally, its Mugg & Beans brand entered Malawi for the first time, as part of a partnership with the distributor of downstream petroleum products Total.
The group, which began its expansion in the region for 20 years, is now present in nearly 19 countries, the first of which in terms of Gross Domestic Product, Nigeria. He also has the means of his ambition. Between 2013 and 2015, Famous Brand built up positive cash which accumulated to Rand 468.3 million. A kitty that has only fallen slightly for the 2015/2017 period despite investments in cash of almost 207 million rand.