BN@10 GG Alcock - SA economy in far better shape than believed, growing too, but not where you think

[@mckannonvibes]

Thanks a mil. Was great to hear good news and not all doom and gloom. Inspires hope for the future of this we country we all love....ek bly in my land!!!!

[@rinaversfeld4933]

Ek ook!❤

[@MyBeulahLand]

An insightful presentation that leaves me with many unanswered questions. The presentation appears to deal with a component of our economy; specifically, with the ‘what’ has changed in the ‘informal / survival sector’ of our economy, and not the ‘why’s and value; to understand the impact. The ‘why, value and impact are vital components, because whilst growth in this sector is indicative of the entrepreneurial spirit of South Africans; it cannot replace the need for the high skilled, highly productive, globally competitive, formally structured economy, that will increase the tax base and the value chain of service delivery. Without growth in the formal economy, we can never equalize an unequal society we so often speak and complain of.

[@jane8404]

Wow. You nailed it. Problem is : this is a very complex subject. I think South Africa is a bunch of different societies/nations/cities that have different aspirations for their future. It is unlikely that high-growth in the formal sector will automatically bring the informal home; given the inequalities. It is however likely that high-growth in the formal sector might be spurred by "informal sector" innovations.

[@deniscoyne5671]

GG Alcock blows my mind, thank you for sharing the truth.

[@ZKhweziN]

Amazing video. It has completely changed my perspective. ♥️♥️♥️

[@SundayRooster]

Finally, a positive presentation out of Biznews.

[@AndrewMcFarlane_1]

Are you a communist?

[@Luvolwethu2014]

Ey finally😮okokoko apha

[@christinefinniss6263]

Thanks GG Alcock. Such an uplifting talk.

[@malcolmmoya219]

Love this man...The media can make S.A look like the pits, the truth is there's alot of positives that are ignored

[@thabeloyanga]

So true. This is the truth that South Africans don't want to hear. We are so used to hearing negative news that we can't believe it when somebody presents us with facts and statistics.

[@RicksPhatPharm-vw2lb]

Because Cape Town says it's so doesn't mean it's so... There is zero positives for non liberal South Africans. This guy is an activist noone takes him seriously nor does he speak for white South Africans. There can be no Ubuntu or 🌈 dream after the last 30 years, to much has happened and lost. You on your own

[@stephensithole2963]

This is the only guy on this platform who is making sense.

[@pesselanunda5494]

I love this guy's research. Brilliant!!

[@thabeloyanga]

I totally agree, there are a lot of activities in our informal sector which are not being accounted for in our employment and GDP figures. We need new metrics to measure the uniqueness of our economy. Our informal economy is cannibalising the formal economy and this means less for SARS. Today you can buy almost anything you want on the street. We need to find ways to help people formalise their informal businesses in order to grow the formal economy.

[@RicksPhatPharm-vw2lb]

You not going to reformalise South Africa with capitalism! Blacks have not been taxed EVER and it's too late for you to say this. We want our 92 referendum signed, noone trusts blacks or democrats and it's your own fault

[@tkafrica267]

The Guy is very spot on. Amazing how opinions are different based on perceptions. Those with this knowledge like Capitec founders and other brands have flourished on the development he is highlighting , this is the reason you find Somalis everywhere in RSA,and South Africans not going anywhere else. Perhaps we should also appreciate the resilience of the majority of South Africans, as regardless of whatever is thrown at them they always survive, from the times of internal wars, slavery, colonialism, apartheid, corrupt government, they still survive, it is a good story to tell and is a fact that most should use as an opportunity to build a better country

[@ohlesedi2204]

I agreed largely with this sentiment, but Capitec however, are an example of predatory practices, an argument can be made that they finance those ignored by the SA banking sector at large, but they are exploitative and only further indebt people. It's not conducive to building a better country or a more representative economy.

[@rainnedancer]

The hustle is real! Love that Kasinomics is getting exposure

[@stlouisix3]

GG Alcock makes loads of sense!!!

[@Intothelight1981]

The problem is, like the wealthy, be they individuals, corporates and or crooked politicians, very few of these entrepreneurs are declaring their earnings and paying their portion of tax. The payslip earners are compelled to, and they are the one's carrying the income tax burden of this country!

[@rinaversfeld4933]

Awesome! Thank you!❤❤❤

[@DianaSwan]

So enlightening and inspiring, thank you for this, I so admire all these entrepreneurs, really excellent, thank you

[@psel2501]

I remember reading about his family in Rian Malan's book. Not surprised that the new dispensation has been kind to them... . Unfortunately, his success is just another reflection of how politically connected people have become rich and prominent, while the rest in SA are left behind. If South Africa had less violent crime and general lawlessness, I would have believed that this informal economy was underappreciated. But as we all know, things are getting much worse, even for those wonderful townships entrepreneurs.

[@GaryWinstonBrown]

For first-time investors, it cannot be stressed enough how important it is to invest hard-earned money in the stock market rather than a bank where interest is guaranteed! The market appears out of control, the times are unpredictable, and the banks are deteriorating. Could there be a chance for a boomer like me? I'm working on a rough estimate of $5M for retirement, and I have a healthy six figures saved up for this. I'm almost 60.

[@Ashleycorrie8494]

Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.

[@MichealTanner141]

It's best to seek an advisor right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we're in a deep recession and everyone is running out of money.

[@GaryWinstonBrown]

That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

[@GaryWinstonBrown]

Thanks for sharing, I just looked him up on the web and I would say he really has an impressive background in investing. I will write him an e-mail shortly.

[@mikesteyn27]

Lol. If I try those hustles SARS will come knocking.

[@sudhish4]

Thank you. Great content. In any country, where there is absence of government like ours, people need to reinvent themselves to survive. This is what our people are doing

[@EinadManhoff]

I know a lot of people living in shacks and rent out their rdp houses

[@stamonmakhuvele]

Brilliant research

[@gavinpauljolliffe1286]

Very informative, thank you

[@rebeccaphiyega2260]

I loved this clip. It was informative especially 12% Stat on informal dwelling. It's sad that fear and lack forms part on the news narrative most especially based on the fact that SA is an economically imbalanced society by design and its still largely kept that way.❤

[@5801160052086]

R20bn worth of backrooms annually,btranslates to a huge missed opportunity by SARS in taxes...

[@stlouisix3]

Good, because if SARS were taxing them they would stop doing business and would become poor!!!

[@fullmetaltheorist]

Fook the government. They would steal that tax money. Best for it to go back into the communities.

[@AndrewMcFarlane_1]

Can't help but alot of the data is screwed for the message.

[@barryhulley617]

Thanks for the video Interested in your perspective as to why so few South African spaza owners and so many foreign spaza owners Cheers

[@thatosebotsane8017]

South Africans used to. The Pakistanis, Somalis came, rented garages put a spaza in every corner, they also bulk stock and open for longer hours. As a result, South Africans find it easier to simply rent out their spaza to them rather than compete.

[@vleiratfilms2020]

Ray of sunshine .. makes sense. Thank you Mr Alcock and Biznews 🌹🌹

[@beverleyuntiedt1777]

Fascinating 😮

[@rojohnstonmakesmoney]

Thank you for an interesting talk - will look out for Louis Vuitton gutters - just brilliant information

[@davidmcfarlane5873]

Africa is a permanent hustle,always making a plan,despite the rubbish politics.

[@trevoryingwane5714]

Brilliant!!

[@ianoverll692]

He is so right

[@MoonHoax-md6mp]

As a White South African Farmer I can confirm that the informal sector is enormous and is totally underestimated by economists and hardly taken into consideration when calculating GDP, unemployment, entrepreneurship etc. This state of affairs is even more applicable to the rest of Africa where I am also active. Involvement in the informal sector renders millions of Africans and Asians free from the vagaries, taxation and exploitation of the State and provides dignity and a sense of achievement but above all a plate of food to hundreds of millions of Africans. Europeans must wake up and realise that their Governments are not their to represent their interests but to economically exploit and enslave their gullible populations through corruption, perpetual wars, Big Tech and Pharma, excessive taxation etc in order to establish an Orwellian Dystopian Police State. WEF: "You will own nothing and be happy." Elections are a farce with all opposition been controlled opposition and puppets of the diabolical NWO Globalists.

[@kemmoneR]

You are exposing us! But he is spot on. There is money in the informal sector. Some people are able to collect 10 /30 thousand monthly on rental. On the issue of payslip, i think this is why entrepreneurs in the township don't regard themselves as hustler not business people

[@stamonmakhuvele]

I'm in the same market

[@annabambamjerky]

I never expected to hear the name eMsinga 😅 that’s my home, where my dad grew up.

[@rgee]

I am only 9 minutes into but I felt like I needed to stop. I read Kasinomics and Kasinomics Revolution years ago and was flabbergasted, but perhaps not with the same optimism you share. Basically, the informal economy is a largely untaxed economy. It is the cash economy. It is the same economy that runs the taxis, shebeens, etc etc. Now the reason I am not optimistic as you is that I, as a tax payer, must bear the burden of the informal economy that doesn't contribute as much as it should to supporting things like roads, sewers, Eskom etc etc. Yes, these people can't avoid VAT. But you think they are telling SARS how much they are earning? Maybe I'll change my mind by the end of the video, but ya, I am not so optimistic as you are about this. People need to pay towards basic services.

[@rgee]

Ya man, I'm near the end. Part of the reason a lot of traditional businesses are flatlining is because they have to take a fat chunk of their earnings and hand it over to a corrupt government. This video is meant to be inspiring but it just makes me go "why must I pay taxes when clearly there are so many people who don't?" I would love to hear GG's thoughts on that.

[@terry-leeheuer7456]

He is really talking about township economy not SA economy as a whole

[@gerritburger4249]

So why is the tax payers base so small

[@francoisdupreez4268]

The issue is that the majority does not know the value of money.

[@terry-leeheuer7456]

Very true small house but expensive cars and all the latest technology

[@ChristopherReichert-km2ww]

Cannot believe Biz News promotes such hallucinations.

[@kemmoneR]

He is not. Township economy is real and thriving

[@peterucko5512]

Interesting. Fascinating. Lots of new & good information. But - I struggle (not only personal. Many people agree) with speakers who Uhm and Ah so much. It's hugely distracting from the message.

[@mikeperkins4356]

Public speaking is not for everyone, but that doesn’t mean one should not deliver a good message as he does here. Try look past that and take more from the message, not delivery of the message👌

[@Degrazy]

sobering presentation

[@joecruiser]

Limited perspective with misplaced optimism.

[@juniormolefe3046]

Blacktax and remittances😂are also a factor in the townships

[@AIRview2]

Is income-tax paid by this businesses at all? Interested to know

[@johanswart8154]

This man is delusional.

[@agrid2608]

Which part is the lie?

[@colourinmyrainbow]

Not at all! He is refreshing and unique in his approach. He opens our eyes to realities. Read the book he speaks about, "Factfulness..."

[@sumyungboi3350]

What would ypu know Johan? Do you do the research and studies he does? Are you involved in the community projects he is? You're a clown to make such a statement with such a big rafter in your eye

[@johanswart8154]

@@agrid2608From 86% of the population living in formal housing to Louis Vitton gutters LOOOOL!

[@agrid2608]

@@johanswart8154 the 12 % informal housing figure is long known. The individual anecdotal story of branded lining I wouldn't know about, but then, neither do you.