Waste pickers’ money management practices and attitude towards entrepreneurship: Evidence from Durban-eThekwini municipality

This study aimed to identify the financial management techniques of waste pickers and their perspectives on entrepreneurship.  The research concentrates on the Durban metropolitan region and employs a sample of 100 rubbish pickers from three suburbs adjacent to significant informal populations. A quantitative methodology is utilised, employing a questionnaire as the data gathering instrument. The questionnaire was translated into IsiZulu to accommodate non-English speaking individuals. The questionnaire comprised three sections: biographical information, financial management techniques, and attitudes towards entrepreneurship. The results indicate that most waste pickers originate from single-parent households and receive a government payment for an average of two children.  Several respondents, predominantly female, reported that they often utilise 'omatshonisa' (informal moneylenders) while anticipating revenue from the sale of their goods. The majority of respondents said that, despite opening bank accounts, these accounts had remained inactive for at least one year due to minimal revenues. Women possess the majority of bank accounts. Waste pickers earn an average of R607 monthly, with a minimum of R200 and a maximum of R2,000. The waste pickers do not save the earnings from the sale of salvaged goods, as the funds are allocated for purchasing meals for children. The study additionally reveals that age has a positive correlation with both waste picking experience and the frequency of days worked per week. These associations exhibit statistical significance.  The majority of waste pickers expressed a willingness to initiate cooperatives and small businesses, contingent upon the availability of mentoring and money. This study influences entrepreneurship, environmental, and health policies for municipal, provincial, and central governments. This research will direct scholars to pursue other investigations on the topic