Circulate money in townships – Thami Mazwai

Image courtesy

Image courtesy

Township businesses need to create an “ecosystem” that will see money circulate in their areas to ensure growth, University of Johannesburg Centre for Small Business Development director Thami Mazwai said on Tuesday.

“Let us create an ecosystem to ensure spending power is trapped in the township,” he told the Gauteng township economy revitalisation summit in Soweto.

“We have to make sure that the rand is circulated in our townships.”

Mazwai said Soweto residents spent more than a billion rand a year, but less than 20 percent of this was spent in the township.

“The money is spent in Sandton and Randburg. It is about time that the money of the people of Soweto develops Soweto,” he said.

Mazwai appealed to businesses to support one another, as the socio-economic benefits accompanied by such a move were immeasurable.





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