Vivo Energy Forms Venture To Roll-Out More KFCs In East Africa
African fuel retailer Vivo Energy Plc has announced that it is forming a joint venture with KFC's East African franchise owner to roll-out more restaurants in Kenya, Uganda and Rwanda at its service s...
African fuel retailer Vivo Energy Plc has announced that it is forming a joint venture with KFC's East African franchise owner to roll-out more restaurants in Kenya, Uganda and Rwanda at its service stations.
Vivo, Dutch energy firm Vitol Group's Africa fuel retail venture, said in a statement that it has agreed to form a joint venture with Kuku Foods East Africa Holdings to increase KFC outlets across the three markets from the current portfolio of 30 restaurants.
Vivo, which distributes and markets Shell-branded fuels and lubricants across 15 African countries, said the 50:50 joint venture will manage and operate the restaurants in the markets on behalf of Kuku Foods, who will remain the local KFC franchisee.
At present, there are 22 restaurants in Kenya and eight in Uganda, located across shopping malls, city centre locations, and service stations, the company said, adding that Kuku Foods planned to open its first KFC restaurant in Rwanda this year.
"A Significant Increase"
Vivo Energy said, "The joint venture will enable a significant increase in the number of KFC restaurants in the portfolio in the coming years.
"It is envisaged that many of the new restaurants will be opened at Vivo Energy's network of service stations across Kenya, Uganda and Rwanda, which leverages Vivo Energy's retail footprint."