Saitex focuses on township economy

Supplied. Saitex

According to portfolio director of Food, Hospitality and Trade of dmg events Evan Schiff, this year’s face-to-face event will provide a unique opportunity for buyers and brands to connect and network with industry leaders.

Township economy focus

“Of particular interest this year is Saitex’s new focus on the township economy,” says Schiff.

“With almost half of Southern Africa’s urban population living in townships and informal settlements, this is a market segment valued at hundreds of billions of rands, which represents a significant opportunity for both manufacturers and importers of food and FMCG goods.”

As part of a stakeholder engagement discussion with government and business that looks at Gauteng townships as a catalyst for growth, attendees will learn how the Township Economic Development Act and Township Economy Partnership Fund will change commercial activity, expand existing businesses in townships, and facilitate cheaper and easier business operations.

Other workshops and discussions will centre around topics such as transformation and the opportunities for women in trade, capacity building, the role of technology to drive recovery, as well as SMME access to finance.

Moving out of survival mode

While the past two years have sent unprecedented shockwaves to global markets, supply chains and economies, the impact has been particularly challenging for smaller African businesses and the SMME sector as a whole.

As they move out of ‘survival mode’ and start to re-establish themselves, what new strategies, technologies and other resources can be employed to drive development, trade and growth?

The show will explore how can businesses mobilise funding and unlock new market opportunities, while ensuring that they remain both competitive and regulation compliant.

Expanding the African economy

Africa is home to one of the world’s fastest growing consumer markets, predicted to increase to 1.7 billion consumers by 2030.

On the one side of this market are the rising number of ‘ultra-high net worth’ individuals with assets over $30m, expected to grow by almost 50% by 2025.

On the other side is the bustling informal sector – considered Africa’s backbone of economic activity – accounting for over 80% of jobs and employing almost 90% of Africa’s women.

“As a high-level, international business-to-business trade platform, backed by a strong advisory board of industry champions whose strategic insight ensures relevant, topical and valuable content to both exhibitors and visitors, Saitex promises to set the stage for business expansion and growth into Africa,” says Schiff.