Global flexible space provider WeWork has entered a franchise partnership with SiSebenza, a pan-African real estate investor, which gives SiSebenza the exclusive right to operate WeWork’s existing locations in South Africa.
The deal also grants SiSebenza exclusive rights to grow and operate the WeWork franchise in Ghana, Kenya, Mauritius and Nigeria. WeWork opened its first South Africa location in 2019 at WeWork The Link in Rosebank, Johannesburg, followed by WeWork 80 Strand in Cape Town and WeWork 155 West Street in Sandton, Johannesburg.
WeWork claims to have seen strong demand from companies seeking flexible space solutions and will use the partnership to power growth and unlock the significant market opportunity in the region.
“Today’s announcement demonstrates our continued progress in pursuing asset-light growth where local capital and expertise strengthen our business. With its in-depth understanding of the market, SiSebenza will build on WeWork’s success in South Africa and power its growth across the continent. This partnership enables us to simultaneously meet the growing demand for more flexible space solutions whilst further strengthening our underlying business,” said Sandeep Mathrani, CEO and chairman of WeWork.
For SiSebenza, founder Andrew Robinson stated that the partnership’s main mandate is to build WeWork into a leader in the co-working space market in Africa.
“SiSebenza knows Africa well. We have a long track record of doing business across the continent and understand that each of its countries operates differently. We are excited to be the team that brings new and inspiring workspaces to Africa that meet each geography’s unique needs and wants,” said Robinson.