The township economy is valued at R900 billion, yet almost none of that entrepreneurial energy has a professional home.
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Township "shopping centres" are sitting on an untapped goldmine.
This is not in the form of retail, but in the entrepreneurs right outside their doors, says the Lemok Agency, a specialist shopping centre marketing partner.
The data is clear: 49% of township entrepreneurs run their businesses from a home or garage, says Lebogang Mokubela, the MD at Lemok.
He says only 11% operate from commercial premises.
“The township economy is valued at R900 billion, and almost none of that entrepreneurial energy has a professional home.”
The specialist says that the gap is a development opportunity hiding in plain sight.
The Riversands Incubation Hub successfully demonstrated this model's viability. This initiative, a collaboration between Century Property Developments and the National Treasury's Jobs Fund, hosts over 150 SMEs on its campus.
Key features include subsidised rental, dedicated business support, and the direct channelling of corporate ESD (Enterprise and Supplier Development) funds to the resident entrepreneurs.
Now, consider the potential of replicating this proven model, not in Midrand, but within a township shopping centre.
How the partnership stack works:
Three parties. One building. One R900 billion market with nowhere to work professionally, says Mokubela.
He says the township shopping centre that figures this out first will not just reposition itself. “It will become infrastructure.”
In February, Andrè de Wet, CEO of Flood, said township spaza shops, informal grocers and stokvel-linked merchants, but also independent stores in suburban malls, family-run outlets in city centres, early-stage e-commerce brands, and micro-retailers operating in residential neighbourhoods form a critical layer of the national economy.
They said these businesses sustain households, circulate money within communities and create employment where formal sector opportunities are limited.
However, they said many of these businesses, whether in townships, small towns or shopping centres, remain excluded from the digital financial services, discovery tools and ecosystem support structures that increasingly define modern commerce.
In March, New Africa Developments (NAD) said it finished 2025 with strong festive season trading across its national portfolio of township and secondary-city malls, reflecting the continued strength of well-positioned, value-led retail environments.
“Across the portfolio, shoppers adopted a more deliberate approach, consolidating purchases into fewer, higher-value visits,” said. Corné Claassen, retail portfolio manager at NAD.
“This more intentional shopping behaviour supported overall trade growth and highlighted the increasing sophistication and maturity of township and secondary-market retail.”
November 2025 delivered a 7.29% increase from November 2024, followed by a growth of 1.72% in December 2025 over December the prior year. Trading density in December 2025 was 42% higher than in November 2025, as shoppers concentrated spend around the festive period.
Footfall mirrored this pattern and remained resilient through the peak trading period. November 2025 recorded a 4.53% increase in shopper visits over November 2024, while December 2025 delivered a slight uplift over December 2024.
More notably, footfall rose by 20% from November to December 2025, indicating a clear focus on key traditional festive shopping moments.
The momentum extended beyond Black Friday, with strong trading around mid-December public holidays and major payday weekends, particularly December 16 to 17 and 23 to 24. Focused marketing, disciplined operations and close tenant coordination ensured shoppers experienced well-stocked stores, compelling promotions and a lively festive atmosphere.
Several centres delivered standout performances with the Dwarsloop Mall in Bushbuckridge, Mpumalanga, leading the portfolio with 5% growth in festive trading.
Acornhoek Mall in Mpumalanga also performed well, recording 4.85% growth in December 2025 compared with the same month in 2024. At Acornhoek, the introduction of a wholesale liquor store made a meaningful contribution to sales, demonstrating the value of targeted, market-specific leasing.
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