Cape Town: The City of Cape Town has invested in upgrades to informal trading infrastructure and markets, to create jobs and grow businesses, in order to boost the local economy of Cape Town.
Member of the Mayoral Committee for Economic Growth – Alderman James Vos visited the Wallacedene Gateway Market where major upgrades are under way. He said that the Economic Growth Directorate of the city is investing in developing and revitalising the markets. They are also putting efforts into other informal trade infrastructure and in various areas, helping to boost business for informal traders and grow the local economy.
The Wallacedene Gateway Market, located at the corner of Botfontein and Boesak Roads in Wallacedene, Kraaifontein, involved the construction of infrastructure, including water and electricity connections.
Alderman James Vos further added that the team proposed development that will see 26-shipping containers, which are modified into shops, a braai area, stage, refuse and parking area, ablution facilities and fencing around the market boundary.
According to him, it will open numerous job opportunities in the broader community and will fulfil the mandate of creating accessible facilities for traders.
Reportedly, the Wallacedene Market is one of many informal trading areas that are being revitalised with other projects in progress in Pelican Park and Simons Town.
The upcoming developments and upgrades are planned for Bo-Kaap, Masiphumelele, Khayelitsha, Kuils River and Gatesville. The developments and upgrades are designed to modernise facilities, improve safety and make trading more efficient and manageable.
The upgrades are part of a raft of support measures from the City of Cape Town’s informal traders. However, the Council approved a 30% cut in Informal Trading tariffs for the financial year 2024-25, in the month of June this year.
Vos added further that the reduced tariffs mean more money for traders to buy stock or otherwise support their growth plans. This ultimately results in circulating more money in the communities they serve.
Adding up to the infrastructure projects, the Business Hub is a part of the City’s Department of Enterprise and Investment that provides ongoing skills development programmes for traders.
The programmes include a variety of business educational workshops amongst others, workshops on Budgeting Fundamentals, and an introduction to Marketing and Sales. The programme also includes Supervisory Skills and Managing Teams and Business Improvement.
James said further that these ventures speak to the City’s commitment to support Cape Town’s informal economy, which is a key contributor to economic growth, provides goods and services to communities and most importantly in sustaining livelihoods for people and their families.