This morning (14 March 2025) saw the official launch of Women in Franchising or WIFA, at its inaugural Breakfast meeting in Sandton Johannesburg.
Speaking at the launch, was the founder of the WIFA organisation, Akhona Qengqe, who said that the ground-breaking association would be looking to build meaningful inclusion and participation for women in franchises as well as create impact in the market by seeking expanded collaboration between women in business who would support and inspire other women.
Strategic Pillars of WIFA
Their will be five key pillars of strategic approach which will be the underlying value of the association and these are:
- Educate – to equip women with the skills and the knowledge to succeed in their field
- Network – To create opportunities for woment to connect and inspire each other
- Transform women’sparticipation in the economy in a meaningful way
- Mentorship – provide women with support and accountability partners in smaller intimate groups
- Celebrate – celebrate achievements and recognise the strides made by women in franchising
There are several corporate sponsors who have backed the new association including Capitec, KFC and Old Mutual, who have given backing to the founders in bringing WIFA into existance.
Business Craft and Funding
Nobesuthu Ndlovu, the Executive Director of Old Mutual SMEgo spoke about the craft of business owners getting funding to grow. “The funding journey that we all go through is that you apply to several funders and not just one”, she commented. “Funders want data and they want history that includes what is your turn-over and what is the seasonality of your turn-over”. “What funders want to know is can we back the jockey and they also want to know that the jockey is organised”, Nobesuthu advises.
Ndumiso Zulu, also of Old Mutual stressed the importance of having a sound business plan, saying “Your business plan is exactly the same as your CV when you apply for a job”. “As a funder, at the end of the day, I am betting on the owner, so who you are as a person and how you conduct yourself makes all the difference”, he said.
Business owners need to build a credit profile that is fundable Zulu concluded.
Listen to The opening speech at the launch of WIFA by Akhona Qengqe – Click Below to Listen
Read More About Women led Businesses in Africa: READ HERE
