Zimbabwe National Chamber of Commerce (ZNCC) has re launched the Franchise Association of Zimbabwe (FAZ), that become dysfunctional in 2008.
Speaking at a press briefing in Harare on Thursday, ZNCC president Trust Chikohora said FAZ would be a part of the business lobby group initially.
“The formation has been necessitated through the realisation that franchising, although the safest way for many to acquire a business of their own, is open to abuse by unprincipled or reckless operators,” said Chikohora.
“The association did not survive for a long time, because of the hyperinflation and economic instability that had affected the country.”
FAZ was first launched in 1994 before falling victim to the decade-long economic crisis in 2008.
“We believe the economic environment has changed and this is what led to the re-establishment of the association,” said Chikohora
“We believe as an association it is easy to link up with the relevant franchise to bring to the business community than for an individual to gather the information alone,” said Chikohora
A number of Zimbabwean entrepreneurs have expressed eagerness to open new businesses or expand by opening new outlets throughout the country.
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Chikohora said franchising had proved to be a successful method of helping solve challenges of capital to finance new products, marketing and inexperience in financial controls.
FAZ would be in charge of facilitating and promoting the emergence, growth and development of ethical franchising in the country.
