Budget boost for the informal economy

Budget boost for the informal economy

Budget boost for the informal economy

Planned projects include the refurbishment of existing informal trading sites in Mitchells Plain, Athlone, Happy Valley and Seaforth in Simon’s Town, and the developing of new opportunities in areas including Masiphumelele, Durbanville and Elsies River. The development of these spaces follows thorough and ongoing communication with on-site traders, communities and the relevant organisations who have offered unique insights that will help us to fulfil our mission to develop dignified and accessible pro-business trading sites. 

 Two key projects in the execution phase include trading spaces in Eversdal and Kuils River. At both sites, the infrastructure improvements include asphalt surfacing and paver installations for essential amenities such as gazebos and retaining walls. Traders who struggled in the past with operational disruptions, specifically during the rainy season, will now be able to trade more efficiently. These changes will create 31 demarcated trading bays and will mark a significant improvement in the day-to-day operations of the traders and their customers. 

 The City is planning to build additional trading bays through Council-approved trading plans, addressing the concerns raised during our engagements regarding insufficient trading bays. This is aimed at driving entrepreneurship and economic activity.  

 ‘Projects such as these form part of our comprehensive strategy to enhance the informal trading landscape and to create the conditions necessary for business to thrive and grow, and reflect the City’s broader commitment to economic inclusivity and growth. 

 ‘Our initiatives are carefully designed to empower traders, facilitate easier access to the formal economy and enable business owners to scale their businesses more effectively. I will continue to push for the improvement of trading conditions across the metro as it forms a crucial part of our long-term strategy to boost Cape Town’s economy,’ said Mayoral Committee Member for Economic Growth, Alderman James Vos. 

 Email the Business Hub team at  business.support@capetown.gov.za   or visit the website:  www.capetown.gov.za/businesshub   to find out about the training programmes. 

 ‘Together we can shape a city that is not only economically vibrant but also inclusive, resilient and ready to face the challenges of  tomorrow ,’ said Alderman Vos . 

Tags: local news

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