GG Alcock says SA's R1-trillion "informal" economy is anything but

South Africa's townships are not a side economy. According to GG Alcock, author of the Kasinomics book series, they're a trillion-rand-plus market that the country's biggest listed companies are already quietly fighting over, from Shoprite's cash-and-carry pivot to Capitec's entrepreneur accounts to Pepkor's handset financing. Alcock, who grew up in a mud hut in Msinga, KwaZulu-Natal, and never went to university, sat down with Alec Hogg to explain why the xenophobic crackdown on foreign traders barely dented the spaza sector, why Pick n Pay's QualiSave format misread who actually shops in a township, how a social grant became one woman's ten-year start-up fund, and why an entire generation of township entrepreneurs is quietly building wealth in bread, eggs, hardbody chickens and handset finance while the formal economy stalls.