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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Johannesburg - State lender, the Industrial Development Corporation (IDC), has pumped R25.5m into a wholesale loan facility to potential franchisees of Famous Brands (FBR) for the establishment of Wimpy, Steers, Debonairs Pizza and FishAways franchised stores under their Pro SME Job Scheme.
Loans ranging from R500 000 up to a maximum of R1.5m
will be granted to approved candidates. Loan funding is for furniture, fittings, equipment and working capital, the two parties said in a joint statement
"Prospective candidates will be pre-screened by Famous Brands via the company's standard franchisee selection process, whereafter final selection will be made by the IDC. Consequently, Famous Brands is not liable to stand
surety for the loans approved to franchisees by the IDC," the statement said.
Kevin Hedderwick, COO of Famous Brands, said the facility would help increase its franchise network from 15% of the total restaurant chains to 20% in the short term.
"This joint initiative with the IDC will go a long way towards providing previously disadvantaged candidates with access
to a premium brand," he added.