Nedbank Launches Franchising Business Unit

NEDBANK Namibia yesterday launched its franchising business unit.acquisitions, revamps and refurbishments package, and the purchase of existing stores.

Nedbank managing director, Lionel Matthews, said in South Africa, the franchising sector contributes more than 10% of that country’s gross domestic product and employs the equivalent of almost a quarter of the entire Namibian population.

“Nedbank Namibia’s view is that this particular industry will play a pivotal role in supporting our government’s aspirations to support small and medium sized enterprises and ultimately serve as a critical catalyst to create new jobs,” Matthews.

Matthews said it fully understands factors such as rising inflation, escalating electricity prices, rental costs, volatile exchange rates, and will find ways of funding the franchises.

“Our enterprise development proposition, therefore, offers prospective franchises credit facilities that are sensibly structured aligned to the business specific trading needs and cash flow cycles,” he said.

“If one looks at the fantastic successes that eminent business personalities like De Wet Oosthuizen and Ben Zaaruka have managed to achieve, then clearly, a bright future beckons for potential entrants to the franchising markets,” said Matthews.

Source : The Namibian