Streaming issues? Report here
Sara-Jayne King Sara-Jayne King
Weekend Breakfast with Sara-Jayne King
06:00 - 10:00
volume_up
volume_mute

Up Next: An Hour With a Special Guest on Just the Hits
See full line-up
Weekend Breakfast with Sara-Jayne King
06:00 - 10:00
Home
arrow_forward
Business Books

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

10 July 2019 7:01 PM

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:


10 July 2019 7:01 PM

More from Business Books

Young man youth teenager teen boy credit card 123rf 123rfbusiness 123rflifestyle

I’ve never been interested in money - Cameron (11), son of Bruce Whitfield

15 September 2020 11:29 AM

"It's brilliant! The jokes are actually funny," says Cameron in his review of "Manage Your Money Like a Grownup".

Share this:
Read More arrow_forward

gay-couple-parents-baby-interracial-relationship-family-adoption-surrogacy-123rf

How to gain a sense of purpose and spark 'outrageous achievement'

3 August 2020 7:36 PM

"When your thoughts are centred around the meaning of your life, you unleash immeasurable power,” says author Richard Wright.

Share this:
Read More arrow_forward

Lab-grown lab grown cultured meat 123rf 123rfbusiness 123rflifestyle

'Big Tech' is in a mad race to bring lab-grown meat to the masses

27 July 2020 7:38 PM

Can we transcend the slaughter? Chase Purdy on his book "Billion Dollar Burger: Inside Big Tech's Race for the Future of Food".

Share this:
Read More arrow_forward

Lion

'Unfair Game' lays bare South Africa’s cruel ‘canned lion’ industry

20 July 2020 7:26 PM

Bruce Whitfield interviews Michael Ashcroft about his book, a painful read about the miserable fate of SA's captive-bred lions.

Share this:
Read More arrow_forward

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