The City’s Economic Growth Directorate is investing in developing and revitalising markets and other informal trade infrastructure in various areas to help boost business for informal traders and grow the local economy. Recently Mayoral Committee Member for Economic Growth, Alderman James Vos, visited the Wallacedene Gateway Market where major upgrades are under way.
The Wallacedene Gateway Market, at the corner of Botfontein and Boesak Roads in Wallacedene, Kraaifontein, involves the construction of infrastructure, including water and electricity connections.
‘The proposed development will see 26 shipping containers modified into shops, a braai area, stage, refuse and parking area, ablution facilities, and fencing around the market boundary. This will open up numerous job opportunities in the broader community and fulfil our mandate of creating accessible facilities for traders,’ said Alderman James Vos, Mayoral Committee Member for Economic Growth.
The Wallacedene Market is one of many informal trading areas being revitalised, with other projects in progress in Pelican Park and Simons Town. Upcoming developments and upgrades are planned for Bo-Kaap, Masiphumelele, Khayelitsha, Kuils River, and Gatesville. These 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 for Cape Town’s informal traders. In June, Council approved a 30% cut in Informal Trading tariffs for the 2024/2025 financial year.
‘The reduced tariffs mean more money for traders to buy stock or otherwise support their growth plans, ultimately resulting in more money circulating in the communities they serve,’ said Alderman Vos.
In addition to the infrastructure projects, the Business Hub – part of the City’s Department of Enterprise and Investment – provides ongoing skills development programmes to traders. The programmes include a variety of business educational workshops including, amongst others, workshops on Budgeting Fundamentals, an Introduction to Marketing and Sales, Supervisory Skills and Managing Teams, and Business Improvement.
To find out more about The Business Hub’s offerings, visit https://www.investcapetown.com/news-events/business-events-in-cape-town/
‘These ventures all speak to the City’s commitment to supporting Cape Town’s informal economy, which is a key contributor to economic growth, providing goods and services to communities, and most importantly, in sustaining livelihoods for people and their families,’ said Alderman Vos.
For more information on the City’s informal market projects, traders can email Informal.trading@capetown.gov.za or visit www.capetown.gov.za/businesshub
