New South African business SiSebenza has plans to disrupt the local workspace market through its collaboration with WeWork. The company is supporting WeWork's drive to enter the African market and, together with strategic partner ALW Properties, has brokered the deal for the first local WeWork location that comes online Q3 2019 at the new Link in Rosebank, Johannesburg.
Bonang Mohale, co-founder and executive chairman of SiSebenza
SiSebenza has access to prime office space for the shared office environment and is working closely with WeWork to finalise possible leases across major South African cities.
Bonang Mohale, co-founder and executive chairman of SiSebenza explains that the organisation will be bringing disruptive business models, with a focus on disruptive technologies, into the South African market with the intention of rolling them out across the continent. “Disruption is the only way to engineer change,” he says. “The partners in SiSebenza all have long and celebrated track records of bringing business success and social good to the South African economy. Our focus is entrepreneur and small business support. Business is the answer; when businesses do well, society does well.”
Link in Rosebank
Unicorns and minotaurs
SiSebenza is not developing its own disruptive business models, but will work in partnership with large, successful, well-funded global startups, bringing them into the tough African market. In investment jargon, these startups are known as unicorns if they are valued at less than $1bn and minotaurs if they have raised more than $1bn in capital. According to CB Insights, in January this year, WeWork was the fourth largest global unicorn by value, with Uber ranking second and AirBnB fifth.
"Accelerating technological change unlocks new opportunities, and we have a pipeline of exciting projects that we will be launching into South Africa this year,” says SiSebenza co-founder Marc Lubner.
SiSebenza will use South Africa as the gateway into other African markets.
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.