Township economy estimated at nearly R1 trillion, but 80 percent of businesses remain unregistered

Most township businesses in South Africa remain unregistered, leaving them excluded from access to finance, government support, and formal market opportunities.

This is according to Standard Bank’s first Township Informal Economy Report, which reveals that around 80% of businesses in these communities operate outside formal regulations such as tax compliance, VAT registration, and labour laws.

The report’s survey included businesses across five provinces, Gauteng, KwaZulu-Natal, Western Cape, Limpopo, and North West and covered enterprises with annual turnovers ranging from R100,000 to R50 million.

By Mthobisi Nozulela

Full story at IOL