Informal trade is a very important part of Cape Town’s economy and offers good employment opportunities for traders, as well as affordable goods and services to locals. The informal sector is the fifth largest employment sector in Cape Town. Many occupations in the informal economy are not only important in their contribution to the GDP but also in their potential to build meaningful livelihoods that can shape the well-being of locals and cities alike. Although difficult to measure, some estimate the informal economy’s value at 28% of South Africa’s GDP.
This project seeks to support the informal traders in Bellville by the creation of an enhanced trading environment for the benefit of traders and commuters.
In July 2018, the GTP embarked on a study to gain a better understanding of the informal traders, their needs and challenges. It is also to obtain information regarding the requirements for trading structures, the willingness of traders to move to formal structures, their ability to pay rent and servicing costs, their trading and storage requirements, and their source of goods.
This project included a comprehensive survey with the informal traders in the Bellville CBD.
The project considers the most strategically relevant business plan, operating modes and funding opportunities for the development of physical and management structures. Once approved, the proposal will be rolled out to participating traders and tested for viability in other parts of the city.