Durban:The eThekwini Municipality has allocated approximately R260 million over three financial years, from 2024/25 to 2026/27, for the enhancement of informal trading infrastructure. This investment aims to improve working conditions for traders and expand economic opportunities.
According to South African Government News Agency, the investment was a key focus at the fifth eThekwini Informal Economy Summit, held recently at the Durban Exhibition Centre. The summit gathered various stakeholders, including traders, government departments, and financial institutions, to discuss existing support programs, future plans, and funding opportunities.
The summit featured presentations on capital projects, destination markets, and the state of the city's informal economy. Attendees learned about spaza shop funding, township economic development, and banking solutions. Traders also viewed a video showcasing completed projects like the Mansel Road Market and Lucky Mngwengwe Traders Precinct, along with updates on ongoing developments.
eThekwini Mayor Cyril Xaba emphasized the informal economy's importance as a livelihood and employment source for residents. Statistics South Africa's Quarterly Labour Force Survey indicates that about 260,000 people in eThekwini are employed in the informal sector, with around 75,000 involved in informal trade. The city reported a 21.2% unemployment rate in the second quarter of 2026, the lowest among South African metropolitan municipalities.
The summit also recognized 32 traders across four categories at the Informal Traders Recognition Awards. The categories included Youth-Owned Business, Innovative Business, Job Creation, and Outstanding Compliance with Municipal By-laws, with winners from sectors like hair and beauty, fashion, automotive services, and food retail. The total prize money was R224,000, and Standard Bank provided each winner with a point-of-sale device worth R6,000.
Thembo Ntuli, Chairperson of the Economic Development and Planning Committee for eThekwini Municipality, reported on commitments from the previous summit, such as refurbishing over 200 trading sites and constructing the Brook Street storage facility. Future projects include small business facilities and container trading sites in uMlazi and other areas, with some projects set to begin in December 2026.