Township innovation and the informal economy took centre stage at iLembe Chamber’s largest gala dinner to date last Wednesday, in a sold-out event that was supported for the 10th year by platinum sponsor Nedbank.

Held at The Capital Zimbali, the evening was a celebration of business excellence, economic resilience and the power of grassroots enterprise to drive real change in the iLembe region.

A highlight of the night was the premiere of The KasiNomics Gala Experience, a one-time musical and multimedia performance inspired by GG Alcock’s bestselling KasiNomics series. The production, featuring Alcock and musically directed by Rob Warren, was performed by Tory Dup, Angel M and Gary Nixon, brought to life the entrepreneurial spirit of South Africa’s informal economy.

From spaza shop owners and “kota” sellers to backyard rental entrepreneurs and goat breeders, the show used powerful storytelling and music to portray the lives of township and rural traders who power a R750-billion informal economy and support over six million jobs.

Alcock, who recently released KasiNomics Unleashed, shared compelling insights. More than 150 000 spaza shops operate across South Africa, 80% of township households buy daily from informal traders and the township fast-food sector alone is worth R90-billion, larger than the formal fast-food market.

He also highlighted backyard rentals contributing up to R30-billion to the housing economy and funerals driving a R10-billion township funeral industry. More than 70% of informal businesses are South African-owned, and most are started with less than R5 000.

“The informal economy is not survivalist, it is a powerful engine of growth,” said Alcock.

“Go among them. Give them respect, for they are the future, a Kasinomic power unleashed.”

With The Capital Zimbali recently hosting the most G20 departmental meetings in the country, the venue set the tone for a night that celebrated resilience, enterprise and the vision of a thriving, opportunity-rich iLembe.

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