Gold Brands Investments Ltd (“GBIL”), owners of South Africa’s fastest growing fast food franchise, Chesa Nyama, with 300 stores currently, today confirmed that the fast food franchise company with stores in South Africa, and across southern Africa including in Zimbabwe, Swaziland, Botswana, Zambia, Namibia and Lesotho, listing on the AltX of the JSE is on track.
The Gold Brands Investments portfolio includes 37 stores across its other franchise brands which include One plus One Pizza, Chicken Wild Wings, Pitaland and the original Blacksteer, the well-known and loved original steakhouse brand. Having experienced rapid growth in three years, Gold Brands Investments intends to raise R15 million through private placement of 15-million shares at R1before listing on the AltX of the JSE.
The Centurion-based food franchiser is headed by Praxia Nathanael, CEO of Gold Brands Investments, is supported by a board of directors led by non-executive chairman, Clifford Raphiri. Raphiri is also non-executive chairman of Adcock Ingram Holdings (Pty) Ltd and is employed as Director of Strategic Capital Projects for SA Breweries (Pty) Ltd. He has a lengthy career with SAB and has served on the boards of various SAB subsidiaries. He brings a wealth of experience in the food and beverage sector.
Other directors include Christos Kassaianides, who has 15 years investment experience in treasury, financial analysis, fixed income training and portfolio management for various investment banks; and Valentine Nichas of VBN, who with more than 30 years marketing and business skills brings both vision and leadership. Val was formerly with Edgars, Debonairs Pizza, Tequila/TBWA and was managing executive of Wimpy, Steers and QSR brands, the division of Famous Brands responsible for Steers, Fishaways, Giramundo and Blacksteer.
The company, founded as Franchising to Africa (Pty) Ltd in 2012, established its first and flagship brand, Chesa Nyama, with its first store at Wits University in 2012. The traditional flame-grilled meat franchise has grown to a current total of 300 stores in just three years and has created over 3000 jobs. It was also recently awarded the RASA Rosetta Award for Best Take-Away Franchise in November 2015. It is committed to creating opportunities for financial freedom for black entrepreneurs and 85% of its franchisees are black.
The success of the operations has been guided by franchising expert and COO, Stelio Nathanael, who began his career in franchising at age 16. Prior to Chesa Nyama, Nathanael founded The Fish & Chip Co. in 2009 which was later acquired by Taste Holdings.
Central to the popularity of Chesa Nyama is its value for money offering to cash-strapped consumers. From its core offering of chicken and boerewors, Nathanael says diversification of products to offer burgers and pizzas through Gold Brands additional brands has been a success.
Says Stelio: “In creating the brand, we thought about how we could give people value for money and quality as well? Inspired by traditional African butcher-shop braais, our fresh meat concept packaged into a fast food format delivers traditional South African braai flavours, conveniently and at affordable pricing for all South Africans.”
The franchise group does this via its own food services distribution, in-house butchery and sauce manufacturing facilities, and as a result, the group is well-resourced to control its supply chain costs, ensuring that its brands remain affordable.
The company aims to be the leading franchise company in South Africa and international markets with its unique brands. Chesa Nyama’s current forecast estimates 320 stores by the end of February 2016.
Media Release by PR Worx
