from FUTHI MBHELE in Durban
KwaZulu Natal Bureau
DURBAN, (CAJ News) – THE eThekwini Municipality has allocated R120 million (US$6,46 million) in the next three financial years for building and upgrading infrastructure for the informal economy.
The investment is in realization of the importance of the informal economy, which contributes R15 billion to the city’s economy annually.
This translates to more than 10 percent of the city’s gross domestic product (GDP).
Thembo Ntuli, Chairperson of the Economic Development and Planning Committee Chairperson Councillor, disclosed the allocation during Informal Economy Summit that took place at the Inkosi Albert Luthuli International Convention Centre.
The summit aims to provide dialogue between traders, informal economy structures and the municipality to strengthen relations.
The convention also served as a platform for the municipality to present programmes and plans aimed at developing the sector.
These developments will take the form of business hives, retail markets, traditional herbs and medicine market, a mealie cooker facility, buyback centres (for cardboard recycling), food court markets, shelters, kiosks, container parks and storage facilities for traders’ goods as well as demarcated sites along the street pavements.
“Several developments are underway across the City, with some anticipated to be completed soon,” Ntuli said.
“This sector is recognised as one of the main contributors to employment creation in the country which is why we continue to invest in this sector.”
Ntuli said the eThekwini will issue up to 4 000 street trading permits by 2024, in order to create job opportunities.
“This process is underway as we advertised vacant trading sites recently and received overwhelming feedback,” Ntuli added.
A building at Johannes Nkosi Road is upgraded to accommodate local entrepreneurs and informal traders.
Nomvula Puleng Hlomuka, the Committee’s Whip, encouraged traders to work with the municipality by operating with valid trading permits, comply with approved policies, clean their working spaces and participate in clean-up campaigns organised by the city.
– CAJ News