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South Africa

30-year plan to keep R9bn revenue in Khayelitsha

Cape Town – Ikamva Investment Holdings seeks to revive the Khayelitsha economy, where residents already had a disposal income sitting at R9bn in 2013, according to research by the Stellenbosch University Business School. Founder and CEO of Ikamva Investment Holdings Luvuyo Jongile told delegates the company launch that it has developed a 30-year plan for Khayelitsha, which they will present to the executive mayor of Cape Town, Patricia de Lille, in November this year. "We realised that as black people we live from hand to mouth and earning a salary is not sustainable. We want to create long-term wealth by preserving the disposal income of the township economy, starting in Khayelitsha," Jongile told Fin24.

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SA population balloons to 55.91m

South Africa’s population is estimated to be 55.91-million of which 51% are female, according to Statistics South Africa’s mid-year calculations. Announcing the figures at a media conference in Pretoria on Thursday, statistician general Pali Lehohla said migration is an important demographic process in shaping the age structure and distribution of the provincial population. The largest share of South Africa’s population (24%) lives in Gauteng accounting for 13.5-million people. KwaZulu-Natal is the province with the second largest population, with 11.1-million people (19.9%). With a population of approximately 1.19-million people (2.1%), Northern Cape remains the province with the smallest share of the South African population.

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