Nonkululeko Khumalo
Abstract
The current research sought to conduct an exploratory design study and examine the impact of non-financial accessibility on informal–sector traders of Umlazi to highlight the need for the local-government informal sector policy reform which can compel the financial sectors to improve granting of financial support. A qualitative research approach was deployed utilising a non-probability sampling frame and an appropriate sample size of ten participants from the various informal sector industries was interviewed. Research findings identified communication, training, policy monitoring, and discrimination as challenges that encumber local government developmental policies in supporting informal-sector traders to secure financial assistance. The research findings indicated a paradigm shift regarding financial institutions’ role in availing finance, policy review and reform, and proper facilitation of training and developmental business management skills as changes to be applied.