Earn serious MOOLA with the 2024 gig economy in South Africa

The gig economy in South Africa is something digital-nomad types have been exploiting about for years, even before the COVID-19 pandemic accelerated everything. Now, it seems the side hustle gig economy in South Africa is finally coming of age. This is according to The Open Letter.

THE GIG ECONOMY IN SOUTH AFRICA

The gig economy in South Africa means earning multiple incomes from on-demand, independent contracts. Image: File

According to Capitec CEO Gerrie Fourie, the bank doled out R1 billion to multiple-income earners in 2023. This represents a 93% growth over the previous year. Moreover, one in three Gen Zs (those aged from 7 to 27) have multiple side hustles. Therefore, extrapolating current Stats SA figures for our labour force, that’s roughly 4-million South Africans.

Globally, side hustlers are thriving, too. 12% of the global workforce participates in the online gig economy. As a result, this new type of work is growing three-times faster than regular workforces. It is anticipated that more than 50% of US will be in the gig economy by 2027.

WHAT TYPE OF JOBS ARE THERE?

Even the Springboks make cash on the side via their side hustles. Images: Instagram @oxkraal/ @nutre4

Anything and everything. The gig economy in South Africa is all about on-demand contracts. It needs lawyers, writers, accountants, actors, designers, developers, social-media influencers, photographers, nurses, content creators and anything else you can think of. Moreover, there is big opportunity in South Africa’s gig economy for platforms that cater to this work profile.

If you’re a company looking for a side hustler, where do you go? Also, there’s a financial element that’s often overlooked. Stuff like invoicing, billing, tax compliance, etc – that adds complexity to this otherwise informal work. That’s where local start-up Craft can help …

GET PAID FOR YOUR CRAFT

Platforms like Craft help keep your side hustle organised. Image: File

Craft enables side hustlers in the gig economy in South Africa to send professional, automated invoices. The site also has a convenient dashboard where users can see all their invoices and income. Soon they will offer billing in other currencies and tax solutions for freelancers, too.

The latter is made possible by having all your invoices in one convenient place to prove your income. This is also helpful if you need approval for large loans for a house or car. The side hustle gig economy in South Africa appears to have finally landed. So make sure you side hustle with the best of them.

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Do you participate in the side hustle gig economy? Do you have advice for any other freelancers? Be sure to share your thoughts with our audience in the comments section below. And don’t forget to follow us @TheSANews on X and The South African on Facebook for the latest updates.

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