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South African bank Absa is to step up its African expansion following shareholder approval for an R18.3-billion deal to combine with Barclays Africa, enabling it to start serving 14.4-million customers across 10 countries on the continent.
The McDonald's Corporation has announced the appointment of prominent businessman Cyril Ramaphosa as the development licensee for South Africa. With a 20-year master franchise agreement, Ramaphosa will be responsible for the operation and expansion of McDonald's restaurants in South Africa.
Shoprite Holdings and the Department of Trade and Industry's Khula Enterprise Finance have signed a groundbreaking agreement to grant a limited number of retail franchise concessions, back by outfitting, training and mentoring support, to black entrepreneurs.