The story of INNSCOR
By Conrad Mwanawashe
In 1987, Zed Koudounaris opened the first Quick Service Restaurant (QSR) branded as Chicken Inn on Speke Avenue in Harare. And Innscor Africa Limited (IAL) was born.
Th Speke Avenue Chicken Inn shop was to become the foundation of a focused group of light manufacturing businesses which, together with various strategically integrated agricultural operations, produce a number of Zimbabwe’s iconic brands in the consumer staple product space.
Six years later, Innscor acquired Astra Crocodile Ranching & Shearwater Adventures, opened Distribution Group Africa (DGA) and started securing international agencies.
About 40 years on, Innscor commands leading market shares across a range of its categories and has grown organically, through acquisition and by venturing into new categories. The group is listed on the Victoria Falls Stock Exchange.
Some of the notable acquisitions include that of National Foods, which has grown to become one of the largest manufacturers of food products in Zimbabwe and the southern African region. Innscor controls 37.82% share with Tiger Brands holding a 37.45% share.
National Foods is the producer of Gloria Flour, Red Seal, Mahatma rice and stockfeeds – the most well-respected brand in the country having been in business for over 50 years.
The stockfeeds brand caters for poultry, beef, pigs, dairy, horses, dogs, fish among many others.
“There is a feed for every animal,” said IAL board chairperson Addington Chinake.
“There is significant research and development invested in the brand to ensure that we are always at the front end of nutritional advancements. This is the number one feed for every breed in Zimbabwe,” he added.
National Foods, through Paperhole Investments (PHI), supports 200 small-scale farmers. The farmers are given inputs such as seeds and/or fertiliser, as well as drought insurance cover for growing maize, sorghum, and sunflowers. Through PHI the farmers are also assisted with technical support. After harvest the farmers deliver the produce to the PHI hub.
This initiative fully supports the national drive to heir kiosks and tuck shops.
achieve:
– Food security
– Improved household incomes and
– Sustained education and family welfare
In 2021, IAL invested in fertiliser blending plant – ‘Nutrimaster’ through the Profeeds business adding another feather in the group’s exciting journey.
A year later, the group invested in a sorghum beer manufacturing plant under The Buffalo Brewing Company.
In 2022, the group also Increased equity in Mafuro Farming, restructure of Baker’s Inn Bakeries into manufacturing, distribution and wholesale divisions.
Under corporate social responsibility, IAL investment in Arts and Culture Support and supported the National Institute of Allied Arts (NIAA) – Visual and Arts Festival.
“IAL is proud to be associated with The National Institute of Allied Arts (NIAA) and sponsors the Visual and Arts Festival. NIAA received an amazing array of imaginative work from primary schools nationwide, amounting to 968 entries,” according to Chinake.
An impressive 177 students were awarded Honours, and 417 Highly Commended. Senior entries amounted to 176, possibly indicative of a resettling period, post-Covid.
Some of the beneficiaries of the group’s corporate social responsibility framework include, 27 orphanages and children’s homes, including Runyararo Children’s Home, Kambuzuma, Orphanage, Felly Orphanage & Mother of Peace Community (Mutoko).
Support has also been extended to nine special needs schools, including Zimcare Trust, Homefields Care Centre, Sharon Cohen Special School and Morgenster School for the Deaf in Masvingo, support for four retirement homes: Mucheke Old People’s Home, Ruwa Trust Lodge, Flame Lily Retirement Home & Ekuphumuleni Old People’s Home, regular day-old chicks and poultry feed donations to the Mapuvire Primary School in Chivi. This provides a sustainable food source for the primary school.
The group also supported Kuchengeta Trust with monthly food donation to provide balanced nutrition for the beneficiaries. The Kuchengetana Trust started in April 2020 to help those who couldn’t afford a daily meal.
This year, IAL partnered the Global Cleft And Cranio-facial Foundation, to change lives of 50 families which children with Cleft lip and pala.
“Beyond this initiative Innscor is determined to continue expanding its corporate social responsibilities and partner with organizations to improve livelihoods,” said Chinake.
“Our vision is to improve the quality of life of the customers in our chosen target markets and hereby create and unlock value for all our stakeholders,” he added.
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