Global versatile area supplier WeWork has entered a franchise partnership with SiSebenza, a pan-African actual property investor, which supplies SiSebenza the unique proper to function WeWork’s current places in South Africa.
The deal additionally grants SiSebenza unique rights to develop and function the WeWork franchise in Ghana, Kenya, Mauritius and Nigeria. WeWork opened its first South Africa location in 2019 at WeWork The Link in Rosebank, Johannesburg, adopted by WeWork 80 Strand in Cape Town and WeWork 155 West Street in Sandton, Johannesburg.
WeWork claims to have seen robust demand from corporations looking for versatile area options and can use the partnership to energy progress and unlock the numerous market alternative within the area.
“Today’s announcement demonstrates our continued progress in pursuing asset-light growth where local capital and expertise strengthen our business. With its in-depth understanding of the market, SiSebenza will build on WeWork’s success in South Africa and power its growth across the continent. This partnership enables us to simultaneously meet the growing demand for more flexible space solutions whilst further strengthening our underlying business,” mentioned Sandeep Mathrani, CEO and chairman of WeWork.
For SiSebenza, founder Andrew Robinson acknowledged that the partnership’s major mandate is to construct WeWork into a pacesetter within the co-working area market in Africa.
“SiSebenza knows Africa well. We have a long track record of doing business across the continent and understand that each of its countries operates differently. We are excited to be the team that brings new and inspiring workspaces to Africa that meet each geography’s unique needs and wants,” mentioned Robinson.
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