Burger King to open 45 more restaurants in South Africa, despite losing money

FILE: The first Burger King in South Africa opened its doors in Cape Town on 9 May 2013. Picture: Rafiq Wagiet/EWN

Burger King in South Africa made a net loss of R9.5 million in the last six months of 2018.

The Money Show’s Bruce Whitfield interviewed Mohsin Tajbhai, acting CEO at Grand Parade Investments (GPI), the owner of Burger King in South Africa.

Despite its losses, GPI will open 45 more Burger King restaurants in the next three years.

It is, however, shutting down Dunkin Donuts and Baskin Robbins to focus on making Burger King profitable.

Listen to the interview in the audio below (and scroll down for quotes from it).

The process [liquidation of Dunkin Donuts and Baskin Robbins] should take between eight and 12 months… Just over 100 staff lost their jobs. We’ve provided them with adequate settlements…

Mohsin Tajbhai, acting CEO - Grand Parade Investments

We understand the issues we’re faced with… By December 2019 we should be profitable…

Mohsin Tajbhai, acting CEO - Grand Parade Investments

We need Government to resolve this [load shedding]… It’s a big risk for us…

Mohsin Tajbhai, acting CEO - Grand Parade Investments

We’ve changed tack a little bit… We’ve made mistakes… We’re confident about Burger King…

Mohsin Tajbhai, acting CEO - Grand Parade Investments

We want to partially exit [Burger King]… We have to get it profitable…

Mohsin Tajbhai, acting CEO - Grand Parade Investments

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