FNB optimistic of Africa franchising prospects
by SAVIOUS KWINIKA
JOHANNESBURG, (CAJ News) – AFRICA holds enormous potential for the growth for franchise operations and has succeeded in driving global franchise brands into the continent, an expert said.
Morne Cronje, Head of Franchise at First national Bank, the South African-headquartered firm, said many brands had made aggressive plans to further grow their African operations.
“There is still much scope for growth if you’re thinking about moving into Africa. We can expect to see similar announcements from listed
franchisors as well as their unlisted counterparts who are continuing to capitalise on rising consumer spending and development across our
borders,” explained Cronje.
He said factors need to be considered before investing in the franchise market in the continent.
Among these include research, investing closer home and choosing the right advisers.
Cronje said the current franchise landscape was competitive.
“We need to raise the profile of the industry and ensure its ability to be an effective lever of social empowerment and economic growth in Southern Africa and Africa for decades to come.” concluded Cronje.
– CAJ News
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