On Johannesburg’s streets, traders remain fiercely cash-first
- Street traders in Johannesburg's inner city transform sidewalks into vibrant marketplaces, selling food, vegetables, and second-hand clothes.
- Gauteng accounts for approximately 29% of South Africa's informal economy, employing nearly 20% of the country's workforce.
- Many street vendors reject digital payment methods due to concerns about scams and the time it takes to access funds.
The struggle between cash and digital payments in Johannesburg's street economy reflects broader issues of trust, accessibility, and the need for financial inclusion. Addressing the concerns of street vendors regarding digital payments could pave the way for a more integrated financial ecosystem, but it requires a concerted effort from fintech companies to build trust and provide affordable solutions.
