![]() Meanwhile, the backroom rental industry is worth around – just on the residential side – R30bn (US$1,643,556,000) a year in rental income. Hogg (2020) estimates that, in South Africa, the food business in the informal sector is worth R87 billion a year and has existed for 10–20 years. The vast majority of employment in Africa is at 85.8%, followed by Asia and the Pacific at 68.2% and the Arab States at 68.6% ( International Labour Office, 2018a, b). More than 60% of the world's employed population earns their livelihoods in the informal economy. For example, according to the International Monetary Fund (IMF), Sub-Saharan Africa (SSA) continues to have one of the highest percentages of informal economic activity worldwide ( IMF, 2017). However, it is also a dynamic industry that fosters job growth. Largely missing from economic policy formulation and analysis ( Fourie, 2018), the informal sector is frequently associated with precarious employment, social security, tax evasion and poor governmental support. The full terms of this licence may be seen at Īlthough the informal sector is a significant component of the economy that seeks to provide livelihoods to a sizeable number of workers and informal traders, this sector is consistently underestimated. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Copyright © 2023, Sinhle Thwala, Tyanai Masiya and Stellah N.
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