Business Books, Evergreen Content

Foreigners rule informal trading (outcompeting even Shoprite). Consumers win!

Informal traders are 7% cheaper on average than large, formal retailers such as Shoprite, a survey by SBGS and informal sector activations firm Minanawe Marketing showed.

Informal traders are usually closer to the consumer, which saves her or him the transport costs.

About 20% of every rand spent in South Africa goes to informal stores, according to Nielsen research.

Foreigners - mainly Somalians, Ethiopians, Bangladeshis and Pakistanis - run about 70% of informal stores in South Africa.

For his weekly business book review, The Money Show’s Bruce Whitfield interviewed GG Alcock about his book “KasiNomics: African Informal Economies and the People Who Inhabit Them”.

GG Alcock is CEO of Minanawe Marketing.

Description of “KasiNomics” on Takealot.com:

KasiNomics attempts to cast a light on the invisible matrix at the heart of South Africa’s informal economies and the people who live in them.

Living and doing business in African marketplaces requires an ethos uniquely suited to the informal, to the invisible, to the intangible.

KasiNomics will take you down those rural pathways, weave between claustrophobic mazes of shacks, browse a muti market, visit a spirit returning ceremony and save money with gogo in a stokvel, among many more people and places.

After almost 20 years of focusing on marketing to the informal sector, GG Alcock, CEO of specialist marketing company Minanawe, showcases some ground-breaking and very successful case studies in this invisible informal world.

His vivid anecdotes and life experiences and how they link to understanding and inspiration for business ideas will make you gasp, laugh and shake your head in wonder.

For more detail listen to the interview in the audio below (and scroll down for quotes from it).

The muti industry is worth R3 billion a year…

GG Alcock, CEO - Minanawe

We have this massive sector that we don’t know how to regulate. And we want to regulate it because we want to tax it…

GG Alcock, CEO - Minanawe

You could halve that 27% unemployment rate if you took into account informal businesses…

GG Alcock, CEO - Minanawe

The real losers are the formal retailers. The winner is the consumer… We should be looking at why they’re successful…

GG Alcock, CEO - Minanawe

Are we supporting South African businesses?

GG Alcock, CEO - Minanawe

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Foreigners rule informal trading (outcompeting even Shoprite). Consumers win!


Recommended

by NEWSROOM AI
Read More
10 best business books reviewed on The Money Show in 2018

10 best business books reviewed on The Money Show in 2018

Know someone who’d appreciate a business book for Christmas? These were the best ones of the year…

Research proves networking doesn’t work (if you try it with strangers)

Research proves networking doesn’t work (if you try it with strangers)

Review of “Friend of a Friend: Understanding the Hidden Networks That Can Transform Your Life and Your Career” by David Burkus.

‘Steinhoff: Inside SA’s Biggest Corporate Crash’ author reveals shocking details

‘Steinhoff: Inside SA’s Biggest Corporate Crash’ author reveals shocking details

Exposed! Blonde mistress, racing horses, unparalleled extravagance… The Money Show’s Bruce Whitfield interviews James Brent Styan.

How to get a tax refund from Sars

How to get a tax refund from Sars

The Money Show’s Bruce Whitfield interviews Daniel Baines, author of “How to get a SARS Refund”.

Who is Elon Musk really? This biographer got closer to him than anyone ever

Who is Elon Musk really? This biographer got closer to him than anyone ever

Truth is stranger, more spectacular and drama-filled than fiction. Bruce Whitfield interviews Musk biographer Ashlee Vance.

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

Popular articles
MTN boss set to rake in billions from the Brulpadda gas find

MTN boss set to rake in billions from the Brulpadda gas find

French oil and gas company Total and Nhleko’s company Arostyle Investments owns 45% and 5% of the exploration rights respectively.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.