Tag: informal economy

Meet the inspiring kasipreneurs of the informal economy, from bakers to backroom rental barons, coffee innovators to goat breeders, kasi delivery people to spaza innovators, mattress makers, backroom builders, vetkoek fryers and chicken dust queens, kota franchises and backyard auto mechanics. These kasipreneurs not only sustain their communities but also drive considerable economic growth and social improvement.

Doing business in Africa is challenging for companies in any industry sector. The continent offers immense opportunities, yet the diversity of demographics and geography demands tailored approaches to management and strategy. Over the past decades, Africa has experienced vast changes.

Is cash truly dead? Fintech innovations and digital payment solutions have risen rapidly, prompting many to think so. Yet, cash remains alive. It is still the preferred way to transact for millions, especially in Africa.

In the heart of South Africa's vibrant township economy, valued at an estimated R750 billion, a transformative shift is taking place. Small to medium-sized businesses are flourishing as the adoption of cashless transactions grows. Despite the widespread availability of banking services, with eight out of ten South African adults having a bank account, cash remains the dominant form of payment.

Around the developing world, informal retail continues to be a powerful social force, employing millions of people who might otherwise not have jobs, driving economic activity in spaces that formal business has not penetrated, and providing essential goods and services for the under-served. Giving this sector a deep knowledge of their market – enabling them to stock preferred brands and products, and even offer credit to loyal customers.