Cash Converters Celebrates 21 Years in SA
Glen Donaldson – International Brand Manager, Richard Mukheibir – Managing Director – Cash Converters Southern Africa, Peter Cumins – Managing Director – Cash Converters International and Peter Forshaw – Financial Director – Cash Converters Southern Africa.
Cash Converters Southern Africa came of age this year celebrating 21 successful years of operation and a brand new global corporate identity to align the brand with its Australian founder.
Over 110 franchisees and their partners attended a three day Africa Conference celebration in Zimbali Lodge with special guests Peter Cumins, Managing Director of Cash Converters International, Glen Donaldson, International Brand Manager, and Richard Mukheibir, Managing Director, Cash Converters Southern Africa. And what a celebration it was!
“I didn’t know very much about South Africa when I first met Richard Mukheibir and Peter Forshaw and heard about their quest to obtain a master franchise. I couldn’t help but be impressed by their enthusiasm for the project. They were also both familiar with the market and were well versed in retail. This combination of experience and excitement boded well,” noted Cumins in his opening address. Twenty one years later his confidence has paid off and Cash Converters Southern Africa is one of only four countries globally to fully adopt the international branding and move into a more corporatised future.
Cumins acknowledged the success and excellent work the Southern African network had done in collaboratively building a strong brand which has stood up well to competition. He particularly highlighted how adherence to the strong core brand values had made a significant impact on building a professional and ethical company with a strong entrepreneurial flair. Moving forward, however, he noted that for franchisees, longevity and sustainability are crucial and this meant a logical move to a more corporate structure which could survive, regardless of the founders’ involvement.
Mukheibir fully supported this view saying that while the entrepreneurial start-up sizzle had been necessary to kick start the business he now welcomed the prospect of a more corporatised future which would lay the foundation to take Cash Converters into the next 21 years and beyond. “From a past that our existing franchisees can be proud of, we’re looking at a tomorrow that will bring prosperity to the next generation of individuals who are eager to build their own wealth whilst helping others,” says Mukheibir.
He said one of the pillars of this new Cash Converters would be its value system, based on passion, professionalism, integrity, respect and collaboration. “Each is important in its individual capacity, but combined, they unite us,” says Mukheibir.
To celebrate its milestones of magic Cash Converters partnered with some of the most exciting young voices on South Africa’s art circuit. Natalie Champion, Cash Converters Marketing Manager, says in a collection carefully curated by Gawie Joubert, the group paid tribute to the moments and memories that have shaped the past two decades. “Each artist was asked to portray a key moment from our recent history or from their lives to signify a particular year,” explains Champion. These artworks were then auctioned off during the conference and the money given to the artists. “The concept was an amazing success with the pieces auctioning for over R64 000, well over many of the artists’ reserve.” Each franchisee was also given a special 21st commemorative book.
Franchisees were left with a clear message – they are part of a strong international global brand and Southern Africa is a key performer within the global network. Franchisees need to have faith in the system; follow the model; adopt the values; remain focused and success will be theirs. And with 70 stores across South Africa and a plan to increase this to 150 over the next five years the future does indeed look bright with Cash Converters forging a platform for wealth creation and employment opportunities for many aspiring Africans.