News24.com | Spazas, farming and backroom renting – here are the side hustles South Africans are spending time on

Various factors motivate South Africans to pursue side hustles.

• South Africans are investing a lot of their time on side hustles to boost their income as financial hardships persist, according to African Bank's latest Consumer Research Report. 
• "Side hustling is one of the most common strategies being utilised by South Africans in order to help increase their current income and/or change their current financial situation," the report said. 
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South Africans are investing a lot of their time on side hustles to boost their income as financial hardships persist, according to African Bank's latest Consumer Research Report. 

In an effort to better understand South Africa's low-to-middle-income market, African Bank, together with On Africa and The Choice Architects, surveyed 3 000 respondents, and a number of them spend at least 20 hours a week on side hustles.

The report found that, in addition to relying on a salary from full-time and part jobs, 27% of adults and 24% of the youth population said they rely on side hustles for extra income. About 16% of seniors in the group also rely on side hustles.

"Side hustling is one of the most common strategies being utilised by South Africans in order to help increase their current income and/or change their current financial situation - roughly a third of youth and adult respondents noted that they are in the process of starting a new side business/hustle in order to help increase their income," the report said. 

"It was also found to be one of the weekly activities that many respondents spend time on regularly."

Popular side hustles among South Africans

The main side businesses in which youth (31%) and adults (35%) are involved in include spaza shops, franchises, street vending, and more.

This is followed by rendered services, such as plumbing, hairdressing, photography and other services (28% youth, and 34% adults). 

Seniors (29%) popularly focus on acquiring and renting property. This includes owning a backroom that's up for rent, taxi or transport businesses, and more. 

Other side hustles that occupy the time of South Africans include farming and selling farmed products (breeding goats, cows or chickens, or growing fruits and vegetables).

The report says others dabble in loan businesses (providing goods and services on credit, cash loans, stokvel lending to members and non-members, workplace peer-to-peer lending).  

Various factors motivate South Africans to pursue side hustles. These include the high cost of living, which affects 80% adults and seniors, and access to financial freedom (68% youth).

The report highlights a need for side hustles for survival as South Africans (youth 33% and adults 38%), with no side gig across all segments, make it a main priority to do their own thing for an income. Seniors (24%) are also joining the trend.