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Famous Brands eyeing entry into Ghana

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SA's Famous Brands - the owner of Steers, Fishaways and Wimpy - plans to open restaurants in Ghana to grow its footprint in the West African region.

In the year to February, Famous Brands, which also operates in the UK, Kenya, Ethiopia, Sudan, Botswana, Namibia, Angola, Zambia and the Middle East, opened 118 restaurants, 86 of which were in SA.

“Drive-throughs were heightened by Covid-19 ... and even before Covid-19 our presence wasn't where we wanted it to be. We need to elevate our presence. We are seeing opportunities in that market.” Hele said the acquisition of an interest in Lexi’s indicates an appetite and interest for more acquisitions.

Famous Brands fully impaired the struggling restaurant in 2020 for R1.6bn after buying it in 2016 for about R2.5bn.

 

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