World versatile house 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 present areas 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 Hyperlink in Rosebank, Johannesburg, adopted by WeWork 80 Strand in Cape City and WeWork 155 West Road in Sandton, Johannesburg.
WeWork claims to have seen robust demand from firms searching for versatile house options and can use the partnership to energy development and unlock the numerous market alternative within the area.
“As we speak’s announcement demonstrates our continued progress in pursuing asset-light development the place native capital and experience strengthen our enterprise. With its in-depth understanding of the market, SiSebenza will construct on WeWork’s success in South Africa and energy its development throughout the continent. This partnership permits us to concurrently meet the rising demand for extra versatile house options while additional strengthening our underlying enterprise,” mentioned Sandeep Mathrani, CEO and chairman of WeWork.
For SiSebenza, founder Andrew Robinson acknowledged that the partnership’s primary mandate is to construct WeWork into a frontrunner within the co-working house market in Africa.
“SiSebenza is aware of Africa properly. We’ve got an extended observe report of doing enterprise throughout the continent and perceive that every of its international locations operates in a different way. We’re excited to be the staff that brings new and galvanizing workspaces to Africa that meet every geography’s distinctive wants and desires,” mentioned Robinson.