The Chairperson of the Egyptian Franchise Development Association (EFDA), Tarek Tawfiq, stated in a press conference on Tuesday, that the EFDA seeks to increase the number of the countries participating in the international business and franchise exhibition (2018 MIFE MENA International Franchise Exhibition), organised by the association annually, to 50 instead of 46 countries only, who are expected to participate this year.
Notably, the EFDA will host the World Franchise Council (WFC) meetings, along with the 16th franchise exhibition from 17 to 19 November in Cairo. The fair will be held under the auspices of the Egyptian Prime Minister, Mostafa Madbouly.
Tawfiq added that such an important event represents a great opportunity for franchise grantors to present their trademarks, and expand their activities, by participating in the exhibition, in the presence of 46 entities representing thousands of franchise projects worldwide.
Notably, the WFC is a non-political association of more than 40 national franchise associations from around the world, in addition to the EU, the Ibero-American Franchise Federation, and the Asia-Pacific Franchise Confederation (APFC).
The WFC was established in 1994, with the aim of promoting the growth of franchising internationally, in addition to facilitating best practice in the franchise association management among its members.
It also aims to foster and encourage the development of franchise associations in nations where such associations do not currently exist.
The EFDA aims, in the coming period, to attract more trademarks to Egypt, with the aim of supporting the expansion of establishing small and medium-sized enterprises (SMEs), in addition to providing more employment opportunities, explained Tawfiq.
He added that the total investment of franchises in Egypt is about EGP 80bn, of which 57% represent foreign brands, and 43% represent local brands, with estimated annual sales of about EGP 12 bn.
Employee numbers in the franchise sector around the world reached 29 million, he pointed out, and the number of workers in the sector in Egypt is about 1.5 million employees so far.
Moreover, Head, WFC General Secretariat, Hatem Zaki, noted that according to the latest survey conducted by the WFC among its members on the economic impact worldwide, highlighting that the WFC includes 40,000 international brands, which have about 2,600m shops under it around the world, represent around 2.7% of the world’s GDP.
Talking about the 16th franchise exhibition, Zaki stated that this year the fair will be launched under the theme of “Social franchise and sustainable development”, announcing that it will offer a group of franchise opportunities, on both the local and international levels, to encourage investors to get a franchise through boosting investments, and signing trade deals.
He assured that the conference will introduce the social role of the Franchise through the presentation of a number of activities such as educational services, in addition to the development of marginalized areas in Upper Egypt according to a plan drawn up by the WFC.