VENTURES AFRICA – The KFC brand is to expand further across Africa, as it is announced new restaurants will be opened in Tanzania, Uganda and Zimbabwe during the course of 2013.
Owners of the brand, Yum! Restaurants International, revealed the expansion plan on Monday which will see the company push its outlet numbers to a new level, already boasting over 900 KFC restaurants across the continent.
“Africa is undoubtedly one of the fastest-growing regions globally and KFC is fully committed to harnessing this opportunity and building a sustainable business model on the continent,” said Bruce Layzell, KFC general manager for new African markets, reports Business Day.
KFC currently operates 63 restaurants in so-called new markets in Africa – a category which excludes some of the more developed markets on the continent-, with the total number of KFC restaurants increasing to 900 if outlets in Egypt, Morocco, Mauritius and South Africa are included in figures.
However, according to Layzell, it is imperative to ensure that each restaurant responds to the local market, noting that each country will have different local demands from a restaurant which companies must bear in mind if large-scale African expansion is to be a success.
“Our KFC restaurants in each market differ — our aim is to make our brand relevant in a local context. We won’t cut and paste a South African KFC into Nigeria or Zambia,” he said by way of example.
As international brands experience weakening results in Western markets – as Europe in particular struggles with financial woes – many big companies are looking to Africa as the solution to maintaining strong growth and good results.
Meanwhile, rapid development across the continent means that Africa’s spending power is increasing and along with the improved stability of many of Africa’s economies, investors are being attracted to the continent and its substantial investment potential.