CAPE TOWN – Sanlam has, for the fifth year, confirmed its sponsorship of the Franchise Association of South Africa (Fasa)’s Franchise Surveys.
The surveys are an important barometer that track the success of this unique business system which in the latest survey shows an estimated turnover of R721 billion equivalent to 15.7 percent of the total country’s gross domestic product (GDP). Its 865 franchise systems support over 45 000 outlets operated by franchisees who in turn employ 369 573 people.
This contribution to the South African economy by the franchise sector has continued on an upward trajectory in spite of adverse economic conditions, socio-political factors and often challenging business regulations.
The Fasa, which has represented the sector for the past forty years, welcomes the forward-thinking intentions of President Cyril Ramaphosa and Finance Minister Tito Mboweni who promise a “new dawn” for the country, with the need for strong public/private partnerships.
President Ramaphosa’s comment that “we should treat our entrepreneurs as heroes and stop treating our business people as enemies” is welcomed and appreciated by the thousands of entrepreneurs and businesses that make up the backbone of our country, said Vera Valasis, executive director of Fasa.