The South African economy is currently experiencing stagnation and unable to offer jobs to those willing and available to work. Faced with this pressure - entry into the informal economy to explore entrepreneurial talent is seen as a relief to provide job and income generation.
Over the past decades, the formal economy found it hard to create sufficient employment - the government has realised that informal economy can no longer be considered as a temporary phenomenon. In order to elevate this sector, government will host an inter-departmental informal sector Summit.
The National Department of Small Business Development and the National Department of Labour in partnership with the Free State Small Business Development, Tourism and Environmental Affairs Department; and the International Labour Organisation (ILO) will host the 2nd National Informal Economy Summit 2016.
The 2nd National Informal Economy Summit 2016 will be held under the theme: “Uplifting the Informal Economy and Creating Pathways to Formalisation”. The Summit will be held on 23-24 June 2016 in Bloemfontein, Free State at the President Hotel.
Minister of Small Business Development Lindiwe Zulu will deliver a keynote address at the Summit. She will share the stage with Labour Minister, Mildred Oliphant; Free State MEC for Economic, Small Business Development, Tourism and Environmental Affairs Mr Sam Mashinini; speakers from the International Labour Organisation; the informal sector and various stakeholders.
During the Summit there will be various Commissions to deal with various topics on: nature of challenges of informal sector in regional and cross-border trade; identifying strategies and policy options to address informality faced by workers in the formal and informal sector; discussion on the DSBD informal business strategy implementation across three spheres of government; and strategies to uplift the informal sector from informal to formal.
The informal economy in South Africa, just like many developing countries has become a key component to address unemployment and poverty. The sector is characterised by non-adherence to legal requirements, is not organised, and lacks protection.
The Summit provides a platform for engagement among stakeholders on challenges faced by the informal economy and present the platform for government to create greater awareness of the National Informal Business Upliftment Strategy (NIBUS).
NIBUS which was adopted by cabinet in 2014 aims supporting the enterprising poor in the informal business sector and facilitating their participation in the mainstream economy through various policy and programmatic interventions.
Members of the media are invited to this event which will be held as follows:
Date: 23 June 2016 and 24 June 2016
Time: 8h00
Venue: President Hotel, Bloemfontein
For enquiries also contact:
Cornelius Monama
Cell: 060 960 3158
E-mail: CMonama@dsbd.gov.za
RSVP’s can be made with:
Clement Moaga
Cell: 071 223 9957
E-mail: CMoaga@dsbd.gov.za
