Africa’s informal economy is receding faster than Latin America’s

COMMON to all men, according to Adam Smith, is “the propensity to truck, barter and exchange”. Less common is a willingness to report all of this enterprise to the authorities (which have a propensity to register, regulate and tax). South Africa’s spaza shops (convenience stores often run from people’s homes), Kenya’s jua kali (a Swahili term referring to the “hot sun” under which craftsmen traditionally made and sold their wares) or Senegal’s tight-knit networks of Mouride...

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