KFC SD BOUGHT BY SA FAMILY

MBABANE – Kentucky Fried Chicken (KFC) Swaziland has been bought by a South African family.

In Swaziland, KFC has six branches which are in Manzini (two), Mbabane, Matsapha, Pigg’s Peak and Ezulwini
The family operates a company known as SIBA Swaziland (PTY) Ltd and all its directors are South African nationals.

The directors of the company that has taken over KFC Swaziland are Nhlanhla Nkululeko, Nandi Zamasiba and Joy Chantel, all Dlaminis.
SIBA Swaziland (PTY) Ltd was registered with the Registrar of Companies on July 11, 2016.
According to the Memorandum of Association, the objectives of  the company are to carry on business as proprietors of restaurants, cafes, importers of acrated, mineral and artificial waters and other drinks and as caters and constructors in all respective branches.

It will carry business of purveyors of Kentucky Fried Chicken and holders of the franchise with YUM International.
Mario Pimenta, who had all along been running the business in Swaziland, recently issued a notice of sale through ML Dlamini Attorneys in Mbabane.

“Notice is hereby given in terms of Section 34 of the Insolvency Act of 1955, as amended, that Pimenta’s KFC (Swaziland) PTY Ltd (Registration Number 1987/2006) intends to transfer, subject to the fulfilment of certain conditions precedent, the business conducted by it in the Kingdom of Swaziland being the business of selling KFC brand products under the name style of KFC as a going concern and made up of a number of outlets in Mbabane, Ezulwini, Matsapha, Mbabane, Manzini and Pigg’s Peak to SIBA (Swaziland),” reads part of the notice.

Even though it is unclear how much the transaction costs, calculations are to the effect that the new directors may have parted with about E42 million to conclude the deal.
This is based on simple calculations that, on average, each KFC outlet costs about E7 million.
One of the new directors of KFC Swaziland, Nkululeko, asked not to comment on the matter at this stage.

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