# Standard Bank says franchising can play a major role in formalising Africa’s informal economy, creating jobs and expanding access to finance for entrepreneurs. Head of Franchising, André Beck, says the sector offers a proven, low-risk pathway into business ownership while supporting economic growth. Franchising contributes about 15-percent to South Africa’s gross domestic product and is expanding across the continent. The bank says improved funding, regional collaboration and innovation will help unlock inclusive growth and sustainable entrepreneurship across Africa.
Standard Bank highlights franchising the informal economy as driver of growth