Some traditional spaza shops are being converted into convenience stores. An organisation in the east of Johannesburg called Family Tree Holdings is working towards formalising nearly 3 000 spaza shops.
This initiative will also be strengthened by their newly-announced partnership with the Nehawu Investment Holding and a potential funding mechanism from the office of economic development MEC, Parks Tau.
The Transformation of Spaza shop industry:
Traditional spaza shops will now reap the benefits of buying in bulk.
Family Tree Holdings has streamlined the process of purchasing stock for shop owners. The organisation will now supply a network of spaza shops at a reduced premium thanks to the discounts they get from buying in bulk.
Electronic banking services
Customers will now be able to swipe at various spaza shops, which will now serve as a convenience store. This is thanks to the partnerships between the organisation and the special electronic banking service, which will enable shop owners to transact and restock conveniently.
Pleased with the initiative, MEC for Economic Development, Parks Tau, told delegates about the Gauteng Economic Development Act which will be making its way to parliament.
It is intended to promote enterprise development in townships.
Tau also expressed plans to create a township partnership fund to provide entrepreneurs with funding.
Source: SABC News (sabcnews.com)