The urgency of South Africa’s current economic situation has prompted the sector to demand that the government follow through on its promises to support business in the recovery and rebuilding of all sectors.
This comes on the heels of engagements between business associations and government - with a task force being formed to identify priorities, urgently rebuild, and put in place relief solutions to mitigate damage caused by riots.
“Whilst we welcome this move, we need government to act on their promises with urgency,” says Freddy Makgato, Fasa’s CEO. “We as an association that has represented franchising for the past 42 years, contributing 14% to the country’s GDP, are prepared to continue to play our part in transforming the economy and contribute to poverty alleviation and job creation in South Africa but we need government to also play their part in working with us on solutions and expansion initiatives.”
Franchising, with its entrepreneurial foundation, duplication format, and business controls can provide solutions in both the formal and informal sectors. The speakers at Fasa’s upcoming conference are all speaking with one voice and one message to the government; We will do our part, if you do yours!
Absa, the sponsor of Fasa’s virtual conference, aims to support franchisors and franchisees in getting back on their feet. According to Miyelani Malulani, Absa’s macroeconomic strategist, “Our economy is taking strain and a post-Covid-19 recovery may take as long as five years, but if we work together to build an inclusive economy that stimulates business opportunities that in turn create jobs, South Africa can recover and prosper.”
Concepts such as social franchising projects could be implemented in various sectors including primary health care, education, social advocacy, and engagement for disadvantaged communities. The piloting of micro-franchising in agriculture, tourism, renewable energy, and newspaper distribution has already produced encouraging results and Fasa appeals to the government to consider these streams of franchising to fast-track recovery and growth renewal.
The Fasa conference will concentrate on four of the major sectors, bring in franchisors to give their perspectives, and have experts on panel discussions to debate the way forward:
The second stream of the two-day conference will focus on steering the franchise sector to future stability and growth. Some of South Africa’s most respected franchises, business, and legal consultants will weigh in on where we’re at and what needs to be done to take franchising to the next level:
“It is up to us, as the franchise community that has contributed so much to the country’s economy over the past forty-two years, to ensure that our sector recovers from the effects of the pandemic and sets goals for renewed growth in the future,” concludes Pertunia Sibanyoni, Fasa’s chairperson.
To book your seat and for further information, go here.
