Tag: franchise association of south africa
Many parts of South Africa’s economy partially reopened in June under level 3 lock-down, but the franchise sector remains under pressure as beauty businesses and employee sustainability remains fragile. The association is also in the works of creating an industry code which was opened for discussion by the Department of Trade & Competition Joining CNBC Africa for this discussion is Vera Valasis, Executive Director, Franchise Association of South Africa and Eugene Honey, Franchise Association of South Africa’s legal advisor from Adams & Adams.
One of the businesses that will be hugely impacted by the COVID-19 lockdown is the franchise industry. Restaurant owners, beauty spa’s and chain businesses that are not essential suppliers have effectively been closed since Friday the 27th of March and will remain closed without staff, customers and supply until the lockdown is lifted. So how will the lockdown and slowdown in foot traffic hurt the South African franchise industry in 2020? Vera Valasis, Executive Director of the Franchise Association of South Africa joins CNBC Africa for more.