The Malaysian Retailer-Chains Association, which promotes retail industry in the country, is eyeing for the best franchising business in the African continent by partnering with the business fraternity there.
Its deputy president, Datuk Nelson Kwok Teng Toong said the association has been neglecting Africa for so long as its efforts were more focused in Southeast Asian countries and China.
“We hope to engage African countries and their embassies here and Malaysian embassies there for further discussions and followed by study tours,” he told Bernama at the Malaysia-Africa Business Forum (MABF) here today.
Kwok said Malaysian companies had yet to make their presence felt in Africa under franchise arrangements despite their proven track record overseas.
Currently, only two companies are operating in Africa, namely Marrybrown, which specialises in fried chicken and fries, and Nelson’s, which sells corn-based products.
Among established Malaysia franchises are Secret Recipe, 1901 Hotdog, Smart Reader, Bonia and England Optical, but they had yet to enter the African market.
Kwok said Africa was the largest untapped market for franchising business given its huge population.
With Africa’s collective gross domestic product (GDP) projected to expand to US$2.6 trillion in 2020 and consumer spending set increase to US$1.4 trillion. Bernama