City engages industry roleplayers at Informal Economy Summit
22 June 2022
On Tuesday, 21 June 2022, traders, trader organisations, small business and other industry roleplayers joined the City’s Economic Growth team for the 2022 Informal Economy Summit, which reconvened after a two-year hiatus due to Covid-19. Read more below:
In his keynote address, Alderman James Vos, the Mayoral Committee Member for Economic Growth, acknowledged that the pandemic had significantly affected the informal sector and said the City responded to this through various interventions.
‘At the start of the pandemic, we distributed 13 000 Covid-safety toolkits to informal traders and small businesses across Cape Town. We motivated the Council to implement a zero percent increase in trading tariffs for the next financial year, starting 1 July 2022. This is on top of the decision to extend the permit relief from the currently agreed date of 1 July 2022 to 31 December 2022,’ said Alderman Vos.
At the gathering, traders and City officials engaged on challenges faced by the industry and discussed pertinent matters, such as the impact of the pandemic, a review of the Informal Trading By-law, and norms and standards for the provision of informal trading economic infrastructure and services, and how it relates to the informal sector.
Alderman Vos told delegates that R53 million of the Economic Growth budget had been allocated towards providing a capital pipeline of projects.
‘This pipeline is to provide well located, more dignified and accessible trading spaces, and system upgrades that will create a more streamlined approach to engagements between the City and traders that will ultimately make it easier to do business,’ said Alderman Vos.
‘I am excited about the future of this sector, as it grows and provides an income to many, as well as delivers products and services to consumers. Let’s collaborate and learn from each other because we are stronger together,’ he said.
Informal economy participants are encouraged to reach out via firstname.lastname@example.org to find out about the City’s various mechanisms of support and sign up for workshops via https://www.investcapetown.com/news-events/business-events/.