ETHEKWINI mayor Mxolisi Kaunda has announced that the City has approved a R60m budget to build infrastructure for informal traders.
The announcement was made at the Informal Economy Indaba taking place at the Inkosi Albert Luthuli International Convention Centre (Durban ICC).
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.
The mayor 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 to the informal economy sector until 2028.
“At our inaugural Indaba last year, the sector raised the issue of several challenges that delayed 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 to ensure the sector is not overlooked when the municipality formulates its business plans and allocates budget for various programmes,” said Mayor Kaunda.
Kaunda also 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 textiles, 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),” Kaunda added.
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