WeWork has announced a franchise partnership with SiSebenza, a pan-African real estate investor, giving SiSebenza the exclusive right to operate WeWork’s existing locations in SA.
The deal also grants SiSebenza exclusive rights to grow and operate the WeWork franchise in Ghana, Kenya, Mauritius, and Nigeria.
WeWork opened its first SA 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.
“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,” commented Sandeep Mathrani, CEO and Chairman of WeWork.
“SiSebenza has collaborated with WeWork in SA for five years. We’re excited to now be their partner for the African continent and build the business into Africa’s market leader,” said SiSebenza founder Andrew Robinson. “SiSebenza knows Africa well. We have a long track record of doing business across the continent and understand that each of its countries operate 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.”