Government meets with Capitec CEO about unemployment statistics

After the CEO of Capitec, Gerrie Fourie, recently said he believes South Africa’s unemployment rate should be 10% instead of the 32.9% as Statistics SA reported, government met with Fourie and his management team to discuss it.

Minister in the presidency, Khumbudzo Ntshavheni, the Statistician-General, Risenga Maluleke and senior representatives from Statistics SA and National Treasury met with Capitec to discuss Fourie’s statement that the unemployment rate should be 10% based on observations of informal economic activity.

According to Statistics SA, its delegation gave a comprehensive presentation detailing the methodology behind the Quarterly Labour Force Survey (QLFS), a nationally representative, household-based survey that already includes informal and self-employed workers in line with International Labour Organisation standards.

Ntshavheni first announced the meeting during Statistics SA’s budget vote debate in parliament and also mentioned that the meeting will be followed by a meeting with other stakeholders.

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Statistics SA will explore development of register for small business

After the meeting, Maluleke described the discussions as cordial and constructive and indicated that Statistics SA remains open to exploring the development of a statistical register for small-scale and informal businesses, which he said would strengthen the quality and granularity of labour market data and support policy initiatives from the Department of Small Business Development.

“We listened to them, and we must investigate the issues of a statistical register for small businesses. Statistics SA methods remain robust. We do not fix statistics to feel better about our reality. We reflect that reality to enable the country to make evidence‑based decisions to change it.”

Fourie welcomed the engagement with the Minister, the Statistician-General, and Treasury, and said Capitec is committed to working with the government and the private sector to help South Africa grow.

“The informal market is vibrant and dynamic, but we believe this growth will only be achieved once the informal economy is properly understood and supported with the right policy frameworks, infrastructure, funding and skills development.”

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Capitec and government will work together on unemployment statistics

Maluleke said Statistics SA is committed to advancing data integrity and is evaluating additional statistical tools, including a register for informal enterprises.

If implemented, this register will complement the QLFS and serve as a valuable sampling frame for improved labour market analysis.

Capitec and the government delegation agreed to explore ways to continuously enhance understanding of the informal sector by leveraging a range of available data sources, including administrative records and research studies.

Maluleke said that as part of coordinating producers and stakeholders within the broader data ecosystem under the National Statistics System (NSS), a series of methodological tests and innovations will be conducted over the coming years to refine labour market indicators and support inclusive economic policymaking.

Ntshaveni and National Treasury also affirmed their support for open dialogue with stakeholders and for strengthening data systems across the economy.