eThekwini Municipality to host indaba for informal traders

eThekwini Municipality is throwing its weight behind the growth and recovery of the informal sector in the city following the recent riots and unrest by hosting the Informal Traders Indaba on 22 September 2021.

The eThekwini municipality announced on Monday that it would be hosting the special business indaba “to unlock job opportunities and promote economic growth within the informal economy”. The Informal Traders Indaba will be held at the Inkosi Albert Luthuli International Convention Centre (Durban ICC), while simultaneously being held at 13 different venues in various parts of the province, in a bid to make the event accessible to business owners who are unable to travel to the CBD to attend the main event.

“Traders are encouraged to attend at venues close to them and to comply to all Covid-19 safety regulations. The Indaba is a platform where eThekwini Mayor Councillor Mxolisi Kaunda will outline strategies to transform the City’s informal economy sector into an efficient and competitive economy,” the eThekwini Municipality said in a statement on Monday.

eThekwini municipality said that Kaunda would also unpack plans to upgrade the current infrastructure for informal traders in eThekwini following the civil unrest that crippled the sector. 

“Sector stakeholders will also have an opportunity to voice their opinions on how the City can assist them take the sector forward,” eThekwini Municipality said,

The informal traders’ sector is a crucial economic node of the city’s economy as it contributes a total of more than R8 billion in revenue, which translates to more than nine percent of the city’s Gross Domestic Product. The informal trading sector is also a major provider of employment, goods, and services for lower income groups.

The recent unrest and looting which took place across the city in mid-July caused billions of rands in damage to both formal and informal business premises.