Top trading spots

2018-03-13 06:01

Some of Cape Town’s most sought-after informal trading real estate is netting the City of Cape Town over R90 000 a month.

At a recent subcouncil 16 meeting, a report on informal trading in the area indicated that traders in St George’s Mall brought in over R91 000 in January.

This income amount is calculated by multiplying the number of active informal traders (allocated permit holders) by the particular trading tariff for the area, explains Suzette Little, Mayco member (North).

The second biggest earner for the City is Greenmarket Square, with an income of almost R25 000.

Addderley Street falls in as the third highest income, generating between R16 000 and R19 000 monthly.

The monthly fee for St George’s Mall is R264 and traders pay R525 per month at Greenmarket Square.

Both sites are currently under a partnership agreement between the City and the Central City Improvement District (CCID) to better manage the areas.

In addition, law enforcement operations happen regularly and the CCID security staff are highly visible, which creates a safe public environment, says Little.

“Informal trading creates an environment for sustainable employment and develops well-balanced public open spaces where both formal and informal businesses can coexist in a manner that benefits the consumer, within a legal framework,” explains Little.

The City is currently busy reviewing Cape Town’s Central Business District Trading Plan, Little adds.

“Part of the plan is the reduction of the trading footprint along the congested walkways of Adderley Street. The idea is to restrict trading in parts of Adderley Street and to relocate those effected traders into economically viable alternative sites. The City will be amending the trading plan and these bays will no longer be available for trading,” she says.

“It’s important that the City of Cape Town creates a well-managed environment that supports economic inclusion, which will assist informal traders to operate their businesses in a manner that ensures consistency, self-sustainability and a positive relationship with the formal sector and the community­.

“The City has always acknowledged the relevance and contribution of informal trading to the economic and social life of the City.”

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