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Taste Holdings Limited, Brimstone Holdings Limited and Nedbank Limited have signed an agreement that will facilitate the funding of fifty new franchisees to open The Fish & Chip Co. outlets.

In an initiative known as Sisonke (the Zulu word for “we are together”), competitive funding will be provided for potential franchisees, who, under normal circumstances, would not have the required security to buy a franchise. Potential franchisees would need to invest a basic deposit of R 120 000 in cash instead of the full R 550 000 with the balance of the total set-up cost (including working capital) to be funded by Nedbank at a preferential funding rate. The franchisee needs no security or collateral to secure the investment as Brimstone will provide a guarantee for part of the franchisee’s obligations.

The Fish & Chip Co. is a brand owned by Taste Holdings who’s CEO, Carlo Gonzaga has long held the view that franchising is corporate responsibility in action and that successful brands should play their part in creating meaningful jobs through sustainable entrepreneurship. With over 300 franchises of which 76% are black owned and employing more than 3 300 people, this initiative will create more job opportunities, thereby stimulating economic growth and firmly entrench the company’s black economic empowerment success and expansion plans.

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