City sets aside R60m for informal traders

ETHEKWINI mayor Councillor Mxolisi Kaunda has announced that the municipality has approved a R60m budget to build infrastructure for informal traders.

The announcement was made during the second Informal Economy Indaba that took place at the Inkosi Albert Luthuli International Convention Centre (Durban ICC) yesterday, November 2. The Indaba outlined the municipality’s plans to support and recognise the important role the informal sector plays in growing the city’s economy and job creation.

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Mayor Kaunda also revealed that through a consultative process, the municipality has been able to complete the review of the Informal Economy Policy, which was adopted by Council in September. The policy will serve as a guide and support structure for the informal economy sector until 2028.

“At our inaugural Indaba last year, the sector raised several challenges that delayed their transformation and growth. As a result, the Indaba adopted specific resolutions, which resulted in the review of the Informal Economy Policy and the provision of adequate infrastructure for informal traders. This policy will go a long way in ensuring the sector is not overlooked when the municipality formulates its business plans and allocates budget for various programmes,” said Mayor Kaunda.

Furthermore, as part of the municipality’s continuous efforts to support informal businesses adversely affected by the floods earlier this year, Mayor Kaunda distributed vouchers, ranging from R2 000 to R3 000, to around 150 informal businesses to purchase stock as part of the rebuilding process.

“The handover is the first phase of the eThekwini Flood Relief Programme to benefit approximately 2 000 informal businesses, ranging from fruits and vegetables, clothing and textile, as well as the automotive sector. This was made possible through our collaboration with the Small Enterprise Finance Agency (SEFA) and Small Enterprise Development Agency (SEDA),” added Mayor Kaunda.

Michael Mfeka (56) who works as a fruit and vegetable vendor at the Phoenix Plaza said it is heartwarming to see the eThekwini Municipality and other stakeholders, such as SEDA and SEFA, collaborating to ensure the development of the informal economy sector.”

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Mfeka who has been trading for 23 years was awarded a R2 000 voucher to purchase stock that will assist in growing his business.

“This is our livelihood, and we are able to support our families as well as create employment for others through our informal businesses. Thank you, eThekwini Municipality, for the continued support. The City has also provided us with training to ensure we are knowledgeable and run sustainable businesses,” said Mfeka.