How S.Africa’s restaurant industry is curating new recipes for success
The latest statistics from South Africa’s food and beverages industry show the industry generated income of R6.5 billion in January, 4.9 per cent higher than a year ago. While consumers bought more takeaways and fast food, sales at restaurant and bar sales were lower. To discuss the state of the restaurant industry, CNBC Africa is joined by Sean Barber, Founder, Rockets.
Thu, 17 Apr 2025 11:16:18 GMT
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AI Generated Summary
- The South African food and beverages industry recorded a 4.9% increase in income in January, driven by a rise in fast food and takeaway consumption while traditional restaurant sales lag.
- Rockets founder Sean Barber highlighted the dual pressures of rising costs and declining margins in the restaurant business, emphasizing the challenges posed by a potential VAT increase on menu pricing and profitability.
- Amid economic uncertainty, Rockets' diversified business model, which includes ventures into the beauty and music industries, positions the brand for resilience and potential growth, leveraging local talent and global trends.
South Africa's food and beverages industry generated an income of R6.5 billion in January, marking a 4.9% increase year-over-year. The latest statistics signal a shift in consumer behavior towards more takeaways and fast food, while traditional restaurant and bar sales are on the decline. CNBC Africa recently discussed the state of the restaurant industry with Sean Barber, the founder of Rockets, a popular South African establishment. Barber shed light on the challenges facing the industry, including rising costs and declining margins. The interview touched upon various aspects of Rockets' business model, from the impact of a potential VAT increase to the diversification into beauty and music segments. With a keen eye on global trends and a focus on local talent, Rockets remains confident in its ability to weather the storm and even expand in the face of economic uncertainty.
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