KFC Africa has explained why it decided to close down its operations in Zimbabwe. The company said that the closures are only temporary as it is exploring various means to allow it to reopen. It blamed currency challenges for the closure. Zimbabwe is currently facing rising prices and a shortage of basic commodities after the exchange rates of foreign currency started spiralling following policy statements from Finance Minister Mthuli Ncube and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya.
We publish the statement in full below,
KFC Africa has taken the decision to temporarily close our restaurants in Zimbabwe as we are unable to continue to trade due to the current pressure on the country’s economy. The currency challenges have affected our operations and supply and we are exploring various ways to reopen our restaurants soon. KFC is a loved and trusted brand in Zimbabwe and we generate new employment opportunities as we grow and with every new restaurant opening.
Our supply chain is heavily dependent on local suppliers and we are passionate about ensuring that these and all other partnerships are sustainable. We remain committed to supporting the economy by contributing to the socio-economic development of Zimbabwe. To our restaurant teams and customers, thank you for always choosing KFC and we look forward to opening our doors soon.