Khayelitsha Woman Turns Social Grant Into R18,000 Monthly Rental Income

• A Khayelitsha resident turned her monthly social grant into a property income stream by saving consistently over a decade
• Informal economy expert GG Alcock shared her story as a case study of grant-funded entrepreneurship in South Africa's townships
• The story sparked fierce debate online, with many questioning how it was possible and warning about the risks of exposure

A Khayelitsha woman built a thriving backroom rental business from nothing more than a monthly social grant. Her story, shared by informal economy expert GG Alcock, has drawn both admiration and scepticism from South Africans online.

Over a period of roughly ten years, the resident set aside approximately half of her monthly grant to purchase building materials through lay-by agreements. That steady, disciplined saving eventually gave her enough to construct six residential units on her property. She now earns R3,000 per unit each month, bringing in a gross income of R18,000.

Read also

Fikile Mbalula's ANC campaign post about the poor sparks backlash from South Africans online

A glimpse into SA's backroom economy

According to the report, the woman's hustle is a window into a much larger, largely informal economy. It's estimated that the backroom rental market alone generates around R30 billion each year.

SA reacts to the woman's property development

The story drew a wave of reactions on social media, with many questioning whether the figures added up and others raising concerns about exposure to township extortion networks.

@lani_0042 asked:

"Which grant? Not R370 a month."

@bongi63764 wrote:

"On social only, I will like to see the breakdown on the cost of building the rental properties. It's impossible on a social grant unless you do get help along the way."

@nomne_nan said:

"Problem is the extortion."

@thuthu.zondi warned:

"Don't expose her. The gangs will come for her rent 😢 take more theñ half monthly sad truth that goes on in our townships."

@zibha75 echoed:

"And now you are exposing her to a protection-fee gang."

Read also

Man breaksdown reason for Zimbabwe's growth in video

Disclaimer: Briefly News does not provide financial advice. The information in this article is for general informational purposes only and should not be taken as financial advice.

See the Instagram story here.

More on financial support in South Africa

• Briefly News recently reported on NSFAS opening its online bursary portal for Grade 12 learners ahead of the 31 October cutoff.
• SASSA has announced changes to its November payment schedule because of the Local Government Elections on 4 November.
• A 67-year-old Eastern Cape pensioner built her own home with her pension money while a R34 million government housing project sits unfinished.

Source: Briefly News