Bongani Bingwa speaks to economist, Xhanti Payi about the ongoing debate around South Africa’s unemployment figures, following comments by Capitec CEO Gerrie Fourie who questioned the official 32.9% unemployment rate, arguing that the “real” rate may be closer to 10% when informal economic activity is taken into account. The conversation examines why the informal and township economy has long been dismissed as unsophisticated, despite evidence of its scale and resilience. Using stokvels as a case study — which saw inflows exceed R13 billion last year — the discussion explores the economic power of informal savings and trade, why nearly 80% of businesses remain unregistered, what barriers continue to frustrate formalisation efforts, and what this means for policy, job creation and economic growth in South Africa.

702 Breakfast with Bongani Bingwa is broadcast on 702, a Johannesburg based talk radio station.  

Bongani makes sense of the news, interviews the key newsmakers of the day, and holds those in power to account on your behalf. The team bring you all you need to know to start your day 

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