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Sifiso Skenjana | Plans for SA's economic recovery are missing a clear opportunity

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Sifiso Skenjana
Sifiso Skenjana
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Of all the economic strategies that have been tabled for our consideration, the emphasis has often been on grand ideas towards turning the economy around, often overlooking the immediate opportunity that lives in having targeted programmes at the informal sector and the portions of the economy it feeds into.

The informal economy, particularly for young people, primarily comprises personal care, precision retailing (spaza shops), backroom rentals, taxis, construction, mechanics and panel beaters.

A 2019 report from the International Finance Corporation called this the Unseen Sector, reporting micro, small and medium enterprises in South Africa employed between 50 and 60% of the labour force and contributed approximately 34% to GDP in 2019.

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