LOUISVILLE, Kentucky (AP) — Yum Brands Inc. is targeting emerging African markets for expansion for its KFC chain that has already become a dominant fast-food player in China.
The company said Wednesday that it expects to double the number of KFC restaurants in Africa to about 1,200 by 2014. Yum projects that KFC will become a $2 billion brand in Africa within four years.
Yum's expansion in Africa will include new restaurants in Nigeria, Ghana, Angola and Zambia. The company said it expects franchisees to invest about $500 million in Africa by 2014.
KFC already has more than 600 restaurants in South Africa and has a small presence in a few other African countries.
Yum's chains also include Pizza Hut and Taco Bell. It is based in Louisville.
