Franchise Association of SA chairman Derek Smith said: "Franchising creates opportunities to contribute to the government's job-creation plan."
In 2009, Hot Dog Café, of which Smith is chairman, was awarded R17-million by the government to create opportunities and 310 jobs in three years.
"Franchising spans 17 different business sectors, is rooted in entrepreneurship and employs more than half a million people. The franchise industry is a major contributor to the South African economy, contributing over R287-billion a year in economic activity," said Absa's head of franchising, Banie Claasen.
Claasen said his bank would introduce cutting-edge technology to make cash depositing, and credit card payments by smartphone, far safer. Smith said the association was negotiating with the National Credit Regulator to set up an internal dispute-resolution system to "clean up the industry".
Nando's co-founder and Franchising Plus senior partner Eric Parker said South Africa lagged the rest of the world in franchising.
"About 17% of retail sales go through a franchise in South Africa. In America it's 56% and in Australia well over 30%," he said.
Source: The Times
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