AFDB Franchise Workshop Makes a Huge Impact in Nigeria

Titled “Understanding Franchising as a Business Development Strategy and Recipe for SME Sector in Nigeria,” the seminar was conducted by Moyanga, Louw and Associates of South Africa in collaboration with the Nigerian International Franchise Association (NIFA) and the National Office for Technology Acquisition and Promotion (NOTAP). It was funded by the Japanese Government through Funds for African Private Sector Assistance (FAPA).

The seminar was designed to create awareness and better understanding of the business franchise concept in Nigeria. More than 40 attendees actively participated in the seminar, including representatives of the small and medium enterprise (SME) sector, intellectual property law firms, banks, and the government agencies responsible for franchising and licensing regulation, SME development, and job creation.

Participants expressed their satisfaction with the in-depth analysis of franchising principles and best practices provided by speakers and workshop material, which they say will help them make informed decision decisions if they adopt franchising as a business method. Representatives of the National Office for Technology Acquisition and Promotion (NOTAP), Small and Medium Enterprise Development Agency (SMEDAN), and the National Directorate of Employment (NDE) emphasized the need for continued collaboration between NIFA and the Nigerian government to encourage the rapid development of the Nigeria franchise sector. Franchising is recognized as an important tool for job creation, transfer of know-how and technologies, poverty reduction, and the enhancement of small and medium enterprises.

The new face of franchising in Nigeria includes successful indigenous brands such as Tantalizers, Chicken Republic, Mr. Biggs and new entrant HIIT Franchise. International brands include Kentucky Fried Chicken, Avis Car Rental, Crestcom (Trainers to the World), Fastrackids, Precision Tune Auto Care Center, Signorama, Computer Troubleshooters, WSI – Internet Consulting and Education, NIIT, and Hawthorn Suites.