South African firm acquires undisclosed stake in Kenyan fast-food chain Big Square
The likes of KFC, Burger King should watch out.
Uqalo says its investment will expand its footprint from the current nine stores to 30 over the next four years.
“We are delighted to support the team at Big Square in their expansion and the development of their offering to serve an ever increasing number of customers,” said Sebastian McKinlay, Uqalo’s East African representative.
Founded in 2011, Big Square has grown to be one of the country's most popular fast-food chain stores with various stores in and out of Nairobi.
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“We’re pleased to bring Uqalo into our business as a new partner so that we can bring our fresh, high quality and affordable dining-out experience to an increasing number of Kenyans,” said Morne Deetlefs, Big Square’s chief executive.
Uqalo, which targets investments located in Kenya, Ethiopia and Nigeria, is primarily funded by Hong Kong-based supply chain and logistics conglomerate Fung Group.
It currently owns a five per cent stake in business-to-business food supplier Twiga Foods.
The anticipated expansion will see Big Square take the fight for customers to the likes of Burger King, Kentucky Fried Chicken (KFC) who have increased their presence locally in recent years.
Global brands have been expanding aggressively in Kenya owing to an expanding middle class population.
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