How Do We Build an Economy That Sees Everyone?

It's been fascinating to watch the responses to Capitec CEO Gerrie Fourie's call to redefine how we see "unemployment." As he says, so many people around the country are doing something for money, so they are not formally unemployed.

Then yesterday, DTIC Minister Parks Tau said in Parliament that he agrees with Fourie - we need to look at economic activity differently.

Today, Risenga Maluleke, the head of Stats SA, defended Stats SA's definition of "unemployment."

He reminds us that their surveys ask people to categorise themselves. In other words, people are telling Stats SA that they are unemployed.

In a way, none of this matters. Redefining "employment" won't make anyone less poor - but it might help us focus on what is important.

I've been encouraged to weigh in on this conversation. What strikes me most is the reminder that labels, however well-intentioned, can sometimes distract us from the real task: helping people earn more with dignity for the services they provide.

Millions of South Africans perform valuable services daily, often overlooked in the informal sector. The question we should be asking is: How do we help these individuals increase their income and stability? How do we enable them to grow their enterprise, no matter how small?

It's also important to acknowledge that many banks and formal institutions might not fully grasp the nuances of the township economy. 

With only about 60% of South Africans using bank accounts, the informal sector's realities can easily be misunderstood. Strict regulations and bureaucratic processes limit banks' ability to accurately assess and serve township communities, especially without direct, reliable data.

The dominance of foreign-owned businesses, such as the 88% of spaza shops reportedly owned by foreign nationals, highlights the unique dynamics at play. If we're serious about creating solutions that make a difference, we need better, context-specific data and stronger engagement with local stakeholders.

At tipped, we believe technology can help bridge these gaps, making it easier for people to be recognised, rewarded, and supported for their work safely and transparently.

This conversation should be about reshaping opportunity and building an economy where everyone's contribution is seen, valued, and fairly compensated.

Let's keep our focus where it matters most.

-Kimlynn Temple-tipped Founder and CEO 2025