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
Thank you for listening to a podcast from 702 Breakfast with Bongani Bingwa
Listen live on Primedia+ weekdays from 06:00 and 09:00 (SA Time) to Breakfast with Bongani Bingwa broadcast on 702: https://buff.ly/gk3y0Kj
For more from the show go to https://buff.ly/36edSLV or find all the catch-up podcasts here https://buff.ly/zEcM35T
Subscribe to the 702 Daily and Weekly Newsletters https://buff.ly/v5mfetc
Follow us on social media:
702 on Facebook: https://www.facebook.com/TalkRadio702
702 on TikTok: https://www.tiktok.com/@talkradio702
702 on Instagram: https://www.instagram.com/talkradio702/
702 on X: https://x.com/Radio702
702 on YouTube: https://www.youtube.com/@radio702

Auto & General competition
03:27

World View with Adam Gilchrist: A Life Saving Marathon Swim
05:12

What’s gone viral with Khabazela: The pin up posters and Corporate suck ups
07:34