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Govt embraces Franchise business

The Ministry of Commerce, Trade and Industry says franchising is a profitable business that is key to Economic growth and development.
Acting Commerce, Trade and Industry Minister Michael Katambo says government will put in place policies that will facilitate and encourage businesses to embrace franchising.
He was speaking at the first national Bank (FNB) Inaugural Franchise show in Lusaka on Friday.
Mr. Katambo has however warned that every business has its own threats has cautioned players in the Franchise business to be weary of Con Artists.
He has noted that government is willing to work with businesses and ensure that they have access to information and that they will strive to benchmark ideas and policies learnt from other countries that have more knowledge and experience in Franchising.
And FNB Head of Business and Commercial Banking Yokonia Ngoma says franchising is key in a Start-up business and reduces a lot of risks.
Mr. Ngoma says it also promotes Diversity in the economy and presents various opportunities.
Also Speaking at the event, Skyview Solutions Limited Managing Partner Wengo Ngala says Franchising is the easiest way to scale up. Small Medium Enterprises (SMEs) into large enterprises.
A franchise is a permission granted by a government or company to an individual or group enabling them to carry out specified commercial activities.


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