Streaming issues? Report here
Lester Kieviet 2019 1500 BW 2 Lester Kieviet 2019 1500 BW 2
The Midday Report with Lester Kiewit
12:00 - 13:00
volume_up
volume_mute

Up Next: Lunch with Pippa Hudson
See full line-up
The Midday Report with Lester Kiewit
12:00 - 13:00
Home
arrow_forward
Business
fiber_manual_record
Opinion

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

10 July 2019 7:01 PM
Tags:
Book
The Money Show
Spaza shops
Pakistani
Bruce Whitfield
Somali traders
Pakistani bakers
book review
business book
business book review
books
business books
traders
book reviews
business book reviews
spaza shop
spaza
foreing owned
foreing-owned
informal
trader
ethiopian
Bangladeshi
Alcock
KasiNomics

About 20% of every rand spent in South Africa goes to informal stores, mostly foreign-run. GG Alcock on his book “KasiNomics".

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.

A spaza shop in Joe Slovo Park, Cape Town (picture credit: https://en.wikipedia.org/wiki/User:Discott)

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:


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


10 July 2019 7:01 PM
Tags:
Book
The Money Show
Spaza shops
Pakistani
Bruce Whitfield
Somali traders
Pakistani bakers
book review
business book
business book review
books
business books
traders
book reviews
business book reviews
spaza shop
spaza
foreing owned
foreing-owned
informal
trader
ethiopian
Bangladeshi
Alcock
KasiNomics

Recommended

More from Business Books

Frog in a pot

Are we boiling frogs? And why do SUV drivers look so confused, asks Tom Eaton

6 July 2020 8:18 PM

The Money Show’s Bruce Whitfield interviews columnist Tom Eaton about his new book, "Is it me, or is it getting hot in here?"

Share this:
Read More arrow_forward

Capitalism 123rf 123rfbusiness

Property rights do not drive progress, but struggle for equality does – Piketty

29 June 2020 7:37 PM

Politics of the left and right are failing argues Thomas Piketty in his latest New York Times Best Seller, "Capital and Ideology".

Share this:
Read More arrow_forward

Bruce Whitfield in Davos 2020

The Money Show's Bruce Whitfield talks about his book, the Upside of Down

11 May 2020 8:04 PM

A strong, positive mindset is one trait Bruce Whitfield has identified in two decades of interrogating how billionaires think.

Share this:
Read More arrow_forward

47014225-sy475-jpg

Rebel Ideas: The Power of Diverse Thinking by Matthew Syed

10 March 2020 4:55 PM

This bestseller examines the power of 'cognitive diversity' - the ability to think differently about the world around us.

Share this:
Read More arrow_forward

business-deal-interview-job-office-boss-123rfjpg

‘Negotiation, your hottest currency’

24 February 2020 7:57 PM

You are just one deal away from turning your dreams into reality.

Share this:
Read More arrow_forward

downloadpng

'That will never work' - the birth of Netflix and the amazing life of an idea

10 February 2020 8:25 PM

From having to pitch his own mother on being an early investor, to server crashes on launch day - how Netflix was born.

Share this:
Read More arrow_forward

Malcolm Gladwell

Right way to talk to strangers is with caution and humility - Malcolm Gladwell

26 November 2019 1:52 PM

Ian Mann reviews Malcolm Gladwell’s new book, “Talking to Strangers: What We Should Know about the People We Don't Know”.

Share this:
Read More arrow_forward

Gavin Watson

How Gavin Watson's Bosasa - born from ANC Women’s League – captured the State

19 November 2019 11:29 AM

Bruce Whitfield interviews News24 Editor Adriaan Basson, author of "Blessed by Bosasa - Inside Gavin Watson's State Capture Cult".

Share this:
Read More arrow_forward

Land-Pic-Site.jpg

'South Africans have to show greater respect for our farmers'

12 November 2019 1:43 PM

“I spent a year travelling 100 000 km [crisscrossing SA researching farmers]. It changed my perspective,” says author Ivor Price.

Share this:
Read More arrow_forward

Open for business

How to build a business you can sell

29 October 2019 2:38 PM

Small business expert Pavlo Phitidis discusses his book "Sweat, Scale, $ell: Build Your Business into an Asset of Value™".

Share this:
Read More arrow_forward

More from Evergreen Content

aggressive-dog-is-barking on leash-123rfjpg

Dog owner? Here's some key advice on how to lessen liability for dog attacks

7 January 2020 4:35 PM

If your dog bites someone - what does the law say? And how can you mitigate the risks of a potential lawsuit?

Share this:
Read More arrow_forward

tash-healing-wingsjpg

'How I overcame my addiction and found my freedom at the Healing Wings Centre'

7 January 2020 3:17 PM

Addict-turned-equine therapist Tash Curtis shares her remarkable story of recovery and self-discovery at the Healing Wings Centre.

Share this:
Read More arrow_forward

Clothes organised and folded to clear closet clutter

5 pro tips on how to declutter and get rid of stuff that's holding you back

2 January 2020 3:58 PM

Cape Town-based organising consultant James Smal shares some expert tips on how to make room for new things in 2020.

Share this:
Read More arrow_forward

islandjpeg

How to save and buy an island (you need only R2000 per month)

15 October 2019 3:36 PM

Saving money on boring stuff such as a car can allow you to do really outrageous and courageous stuff, says Sam Beckbessinger.

Share this:
Read More arrow_forward

Marketing

Marketing is becoming the single most important key to success in small business

2 August 2019 2:30 PM

'Marketing' is not 'sales'. It’s not noise. It's a science, and you must get it right, says Pavlo Phitidis.

Share this:
Read More arrow_forward

Kahn Morbee

Kahn Morbee (real name 'Dingaan') of The Parlotones opens up about his money

1 August 2019 8:20 PM

The Money Show’s Bruce Whitfield interviews Morbee about his attitude to money (hopes and fears, successes and failures, etc.).

Share this:
Read More arrow_forward

Flower

How to build a resilient small business

30 July 2019 8:12 PM

Small business guru Pavlo Phitidis on the basics of building a resilient business. He gives clear guidelines for getting it right.

Share this:
Read More arrow_forward

Four cousins Van Loveren

Story of Van Loveren Vineyards and 'Four Cousins', SA's top-selling bottled wine

29 July 2019 8:28 PM

Bruce Whitfield interviews Phillip Retief, CEO at Van Loveren Vineyards, the origin of the SA's top-selling wine, "Four Cousins".

Share this:
Read More arrow_forward

darren-whackhead-simpsonjpg

Going broke scares me, because I've been there - Darren 'Whackhead' Simpson

25 July 2019 6:26 PM

Bruce Whitfield interviews Darren ‘Whackhead’ Simpson about his attitude to money (hopes and fears, successes and failures, etc.).

Share this:
Read More arrow_forward

Bruce Fordyce

Bruce Fordyce – one of South Africa’s all-time greats - bares his soul

24 July 2019 7:53 PM

The Money Show’s Bruce Whitfield interviews athlete about his attitude to money (hopes and fears, successes and failures, etc.).

Share this:
Read More arrow_forward