Rinchi
TechInAfrica – The U.S shared workspace provider, WeWork, announces its plan to launch a co-working space in South Africa in the third quarter of 2019. The plan was announced a few days ago and would be its first expansion to Africa.
In order to execute the plan, the company will be partnered with Refedine Properties, one of the biggest real estate companies in South Africa. According to the plan, the first location would be Rosebank, a suburb in Johannesburg.
Eugen Miropolski, Managing Director of WeWork explained, “Expanding here is an obvious choice for us: it’s our first location in Africa and, with its global outlook, South Africa is the gateway to the rest of the continent, so we’re excited to welcome new members and grow our community here.”
With the expansion plan to Johannesburg, Miropolski explained that the firm didn’t have further plan to expand to other locations in Africa immediately.
Miropolksi said, “We’re looking to expand our footprint across Africa, and we’re very excited about the potential here, but right now, we’re fully focused on launching in Johannesburg and building our local community.”
WeWork is backed by SoftBank Group Corp from Japan and provides spaces for individuals or startups. In August last year, WeWork for the first time released its financial results in which had lost $723 million in the first half of 2018 and $154 million in 2017.
