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Lessons from Singapore? Wisdom of invisible markets – Social transformation at work

It’s known as the ‘invisible economy’ that no one is really talking about, but it’s keeping a large part of South Africa afloat. And the numbers prove it. Nielsen research shows that 20% of all money spent in SA is spent in informal stores, which sell goods to the value of R46 billion per year. And most importantly it’s increasing at 7% per annum vs formal stores at 4%. While some analysts reckon it’s even larger than the country’s gold mining industry. Louis van der Merwe explores the informal economy, and for it to bring true economic transformation, says South African government must follow the examples of both Hong Kong and Singapore. It must do more, not less, to create the conditions for enterprise development to thrive. – Stuart Lowman

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