Check the stats
Your article on SA’S township economy (Cover Story, August 30-September 5) contains glaring statistical contradictions that the writer either glosses over or relies on to build an argument, leading to confusion in this reader at least.
We are made to believe that townships, where 40% of South Africans live, have a spending power of R11bn, or 0.58% of total consumer spending of R1.9-trillion in
2017 for SA as a whole. If that is hardly credible, we are then told that SA’S informal economy, which exists mainly in townships, accounts for 25% of GDP, which in 2017 amounted to R4.1-trillion. That’s about R1-trillion. Something has to give.
As the old adage goes, there are lies, damned lies and statistics. FM writers should interrogate the statistics they report on instead of unquestioningly regurgitating them.
DA shadow minister for small business development