Today’s top entrepreneurship and business stories (29 February)
Chesa Nyama franchise heads to the US
Chesa Nyama, a traditional braai restaurant franchise and is taking South Africa’s braai culture to the US with its first restaurant in Nashville, Tennessee in October this year.
Chesa Nyama is one of South Africa’s fastest growing national brands with almost 300 franchises across South Africa and employs over 3 000 people. The brand’s rapid growth led to the listing of its owner company, Gold Brands, on the JSE at the beginning of 2016.
Gold Brands announced on 23 February that the company had signed a memorandum of understanding for the expansion of the brand with private investors, the South African industrial holdings firm Red Hornbill, and the White Family Partnership, an American partner. (Southafrica.info)
Scale-ups can help solve job crisis in SA
Scale-ups which are high potential businesses that have been resilient enough to outgrow challenges that many small businesses face in the start-up stages, can stimulate high levels of entrepreneurial activity and drive the creation of sustainable jobs.
This is according to Heather Lowe, head of enterprise development at FNB who says the contribution of startups to economic growth and job creation is invaluable, but these businesses should not be neglected as they grow.
High potential businesses still need support and mentorship in order to fulfill their legacies, contribute to sustainable economic growth and help the country to be more competitive, she says.
Lowe adds that there is a growing misconception that scale-ups are already established and no longer require guidance and support. Despite their achievements, these businesses still face challenges on a daily basis and should be assisted in order to realise their full potential and grow into sizeable organisations.
“One of the biggest challenges faced by scale-ups in South Africa is effective leadership. Entrepreneurs that are able to transform start-up businesses into scale-ups need to possess a range of leadership qualities and should be able to adapt to the ever-changing global business environment.”
African investors outside of SA are seeking out residential property in the country
Investors from other African countries continue to show a strong appetite for residential property in South Africa, particularly in Gauteng province.
Frequent investors originate from Nigeria, Angola, Ghana, Uganda, Gabon, Kenya, Zimbabwe, Congo and Mozambique.
According to Dr Andrew Golding, Pam Golding Properties Chief Executive Officer, foreign investment in residential property in South Africa continues to be encouraged by the perceived weakness in the currency which ensures that foreign buyers, and buyers from the African continent in particular, are able to achieve excellent value for money in South Africa.
“From a Gauteng perspective, Pam Golding Properties continues to conclude transactions to foreign investors, particularly in the greater Johannesburg and Pretoria regions. African buyers in particular continue to show an appetite for local residential property and are making up an increasing proportion of the foreign buyers in South Africa,” he said. (Biznis Africa)