How big is South Africa’s township economy?

Small businesses operating in historically designated townships on the periphery of the country’s developed urban economy are as much a part of our economy as large national companies or home-grown multinationals operating out of Sandton, the lender said.

A diverse, vibrant and growing small business segment drives the growth, broad-based employment and innovation that expands inclusion, builds general prosperity and maintains social stability, said Cooper. Most of these revolve around addressing informality – by, for example, assisting small emerging enterprises with formal business registration, building adequate payment channels, and developing business capabilities by providing access to technology and advice.

“Additional businesses include backroom rentals, minibus taxi operators, mechanics and panel beaters, metal fabricators, childcare services, barbers and hair salons among others,” it said. FNB has said in the past that with as much as half of South Africa’s urban population living in townships, the ecosystem supporting these communities warrants significantly greater focus from the banking sector.

Source: News Formal (newsformal.com)

Wait, Spaza shops apparently employ 2.6 million people who I assume must be South African ?

'How big is the Pakistani township economy' - South Africans don't own jack!

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