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Ian - glad that you found the blog post useful, and appreciate your reference to the informal sector, which I agree can be an important source of growth and dynamism. However, even that doesn't seem to be happening on a large enough scale in South Africa -- whether you look at the national statistics or draw on anecdotal evidence. There is a flurry of informal activity here and there, but nowhere at the scale seen in other emerging markets. That is not surprising, however, given how throttling the urban by-laws are toward such activity, enforced with vigor rarely seen elsewhere in the developing world. Moreover, the townships, where a large proportion of the unemployed reside, remain geographically cut-off from urban centers and carry surprisingly little economic activity within. Your point, however, is very valid. This, and not the first-world South Africa, is where the growth potential lies. The Bank is starting new analytical work to understand the economics of South African townships, which should shed some light on the issue. Watch this space for more on that soon.