Nathan Groener’s Post

Interesting article

📕 “Just how significant is the informal economy in South Africa? It’s bigger than you may think - Believe it or not, it’s valued at $40.54 billion!"🚀 South Africa's informal economy is valued at approximately $40.54 billion (R750 billion), playing a crucial role in creating jobs and providing food for millions of South Africans. Despite not paying much tax, this sector remains invaluable. Economist GG Alcock provided an overview of the size of different parts of the informal economy to illustrate its importance: Key Components of South Africa's Informal Economy: ⚠️ Backroom Rentals: South Africans earn between $1.08 billion and $2.16 billion per year in backroom rentals. These rentals provide affordable housing options in densely populated areas, offering an essential source of income for many homeowners. ⚠️ Spaza Shops: The spaza shop market, consisting of small convenience stores often run from residential properties, is worth $10.22 billion annually across 100,000 spaza shops. These shops are lifelines in local communities, offering everyday items like groceries and household goods within walking distance. ⚠️ Spaza Shop Rentals: Spaza shop rentals earn $1.35 billion per year. This segment highlights the dual role of spaza shops in not only providing goods but also contributing to the rental income of property owners. ⚠️ Informal Fast-Food Market: The informal fast-food market is worth around $2.70 billion annually across 45,000 outlets. These vendors offer quick, affordable meals, catering to the daily needs of millions, particularly in urban and township areas. ⚠️ Taverns and Shebeens: 45,000 licensed taverns and shebeens earn $5.95 billion per year. (Shebeens are township bars). These establishments serve as social hubs, providing entertainment and beverages, and supporting local breweries and suppliers. ⚠️ Taxi Industry: The taxi industry earns $2.70 billion per year. Taxis are a critical component of South Africa’s transportation system, particularly in areas underserved by formal public transport. They provide reliable and affordable transit options for millions of commuters daily. The Importance of Supporting the Informal Economy: The informal economy's contributions extend beyond mere economic metrics; it provides essential services and goods that enhance the quality of life for millions of South Africans. Supporting these enterprises can lead to increased economic resilience, job creation, and improved living standards. South Africa's informal economy is a dynamic and vital part of the national economy. Its $40.54 billion valuation underscores its significant impact and the need for recognition and support from both the government and private sector to ensure its continued growth and contribution to society. Great post thank you Nathan Groener! “We help entrepreneurs grow!” www.fio.group #SouthAfrica #Inspiration #Entrepreneurship #Success #WhatInspiresMe

Exploring the Magnitude of South Africa’s Township Economy Recent studies estimate that South Africa’s township economy is worth approximately R100 billion annually, highlighting its significant contribution to the national GDP. Townships, home to millions of South Africans, are bustling hubs of entrepreneurial activity and innovation. From informal traders and small-scale manufacturers to service providers and tech start-ups, township businesses are a vibrant and essential part of the country’s economic fabric. RE: https://lnkd.in/dJBVscbT #Townshipeconomies #townshipeconomy #local #economicgrowth #informaltraders #manufacturers SA Business Integrator

Embracing the township economy has always been a core belief of mine. Witnessing countless township graduates, supported by hardworking mothers selling fruits and amagwenya (fatcakes) in taxi ranks, demonstrates its potential. Despite being the fastest growing sector in South Africa, it remains largely unmeasured. Various industries, such as FMCG, Telecoms, Auto, and Healthcare, are benefiting from this ecosystem. The informal economy, estimated at R750 billion, eludes economic indicators and taxation, concealing a multitude of unaccounted-for jobs. Imagine the untapped potential within this thriving sector. Let's shift the focus! Instead of creating more businesses, let's invest in infrastructure and support existing enterprises. By bolstering their growth, we empower them to generate more jobs and drive economic progress. #SupportLocal #EconomicGrowth

Multi-faceted approach essential. Investing in education and skill development, promoting entrepreneurship, and fostering an environment conducive to business growth can create a robust foundation for sustained job creation. #AfricanStates #UnemploymentSolutions #EconomicGrowth #SkillDevelopment #AfricaJobCreationInitiatives https://lnkd.in/gSAaGhf3

South Africa’s township economy has weathered the economic storms battering the country better than its formal peer. It led to strong growth for listed companies with exposure to it, such as Vukile, Resilient, Fairvest, and Exemplar. This is feedback from one of South Africa’s largest asset managers, Stanlib, who outlined this growing value of property in the informal economy in a note to clients.  Stanlib’s head of property, Nesi Chetty, and analyst Ahmed Motara said in the note that the informal economy has grown at a staggering rate over the past decade. https://lnkd.in/dYB4Smfp

Nigeria faces challenging times as its economy contracts. Join the conversation as we explore the measures, strategies, and innovations needed to navigate this economic landscape effectively. Learn more>> https://lnkd.in/dyszR-ZG .. . . . . . . #CareerDevelopment #Networking #Leadership #ProfessionalDevelopment #JobSearch #PersonalBranding #Entrepreneurship #DigitalMarketing #SalesTips #Innovation #ProductivityHacks #LeadershipDevelopment #DiversityandInclusion #CareerAdvice #LinkedInTips #TechTrends #BusinessStrategy #WorkLifeBalance #ProfessionalGoals #ThoughtLeadership

Africans are champions of economic individualism. From our towns and villages to the diasporians in far away America, we anchor our success mainly on individuals efforts. Therefore, our businesses and entrepreneurs are often on a solo mission, compared to the more joint venture systems of the Western world. No wonder, small businesses dominates the African economy both in job creation, GDP contribution and number of existing businesses. While this attests to the entrepreneurship spirit of an African men, however, in this article I analysed what the real impact of this model have been for the African economic growth. What need to be done, and how best to achieve it. https://lnkd.in/dyh6ssfJ

#Uzbekistan allocates $1.3 bn for #entrepreneurship to secure #employment In a concerted effort to address #unemployment, Uzbekistan has been diligently implementing various #economic programs. 👉Details — http://dy.uz/qmt1a Shavkat Mirziyoyev #Entrepreneurship #PovertyAlleviation #EconomicEmpowerment #JobCreation #FinancialSupport #Development #InclusiveGrowth #FutureOpportunities #Economics #Finance #Economy #ESG #DaryoNews

 From Lagos to Nairobi, Africa's richest individuals are making their mark. Explore the stories of success, entrepreneurship, and wealth creation in the continent's top 7 cities. Read More>> https://lnkd.in/dyFm8KrA . . . . . .. . . . . #FaceGoals#FlawlessSkin#FaceCare#GlowingSkin#FaceLove#NaturalBeauty #LoveYourself#SkinIsIn#HealthySkin#BeYou#BreakingNews#Headlines #LatestUpdate#TopStory#NewsFlash#InDepth#CurrentEvents#GlobalNews#DailyNews#WhatsHappening #TechNews#InnovationUpdate#SiliconValley#LatestGadgets#CyberSecurity#AIUpdates #BlockchainNews#TechTrends#DigitalTransformation#StartupNews#BusinessNews#MarketWatch#FinancialUpdate#StocksToday #InvestmentNews#Entrepreneurship#EconomyToday#CorporateNews#FinancialMarkets#MergersAndAcquisitions