The Engineering Behind Fair, Fast, and Automated SME Lending
In South Africa’s dynamic economic landscape, access to finance remains a critical challenge for small and medium enterprises. While traditional…
Tag: Informal economy
Township Economy Report Reveals 80% of Businesses Unregistered, Limiting Growth Potential
South Africa’s township economy faces significant growth barriers with nearly 80% of businesses operating unregistered. The Standard Bank report highlights challenges in formalization, digital payment adoption, and financial inclusion despite the sector’s R900-billion annual value.
South Africa’s township economy represents a massive yet underdeveloped economic sector facing systemic barriers to growth and formalization. According to Standard Bank‘s inaugural Township Informal Economy Report, nearly 80% of township businesses operate without formal registration, limiting their access to financial services, digital tools, and market opportunities despite the sector’s estimated R900-billion annual value.