By Charles Lee Mathews. South Africa’s Gen Z isn’t unemployed; they’re unstoppable hustlers. That’s the big takeaway from a recent report published by Student Village in partnership with futurist Bronwyn Williams of Flux Trends called: “The Gen Z Economy Report: Cash, Culture and Clout”.
Just 16% of the over 900 South Africans aged 18 to 30 surveyed in the study identified as unemployed. This is far below the unemployment rate for people aged 15 to 24, which was 62.4% as issued by StatsSA in the first quarter of 2025.
“That was a big thing for me. What was also notable was the significant role side hustles play in their income stream. It is not a small number that have side hustles,” says Student Village CEO Ronen Aires. “They’re content producers. They are the product, so they’re monetising themselves, which is very different to how things were done in the past,” he says.
The hustle mindset
“This generation is piecing together income from every angle: 21.7% from hustles, 20% from parents, and 17.5% from state grants. They’re working on Instagram,” Aires says. “Also, they’re much more transactional in their approach to life. They’re not loyal by design. They’re just loyal by convenience,” he adds.
They typically own multiple bank accounts — between one and three on average. Aires asks: “Why do they have a diverse portfolio of bank accounts? Particularly given you’re tripling up your fees and it is much more admin?”
The answer, he says, is simple: risk management. “They also want to be able to receive the money from wherever their income sources are immediately. If their sponsor is with one bank, they want to ensure they have a matching bank account. That’s one reason,” he says.
Risk savvy
A second reason is to protect access. “They do this so ATM hijackers and creditors can’t access all the funds. They’re diversifying risk. If a client or gig pays into Bank A, they want to access it fast. But they want their money elsewhere if they’re robbed or a debit order hits,” Aires says.
The report urges brands to dig beneath official statistics for a more realistic view of young South Africans’ lives. “We should reframe our narrative of young people being idle ‘NEETs’ (not in education, employment or training) towards them being underemployed and prevented from achieving their full potential,” the survey reads.
Income is often pooled and shared with family and community, reflecting a deep-rooted sense of mutual support. Spending is focused on essentials. Food takes up more than half of the average student’s budget, while rent and clothing are also key priorities.
Why the high spend on clothes? According to the report, clothing is seen as an investment in personal branding and social status, not just a basic need.
Cash is king, but crypto’s calling
“This generation is happy to tap. They all said they receive between one and three digital deliveries a month,” says Aires. But despite being digital-first, almost 80% of respondents still prefer using cash.
“While they’re digitally minded, 80% said they still prefer using cash. And 16% said they have credit cards. I see this as a self-correction from previous generations. Gen Z has seen their siblings, parents, aunties, and uncles drown in debt,” he says.
“This is about trust, access, and control,” says Aires. “They call bank fees a secondary tax. But with cash, they feel in control of their money. It’s a very healthy self-interest.”
That pragmatism extends to the surprising 30% already experimenting with cryptocurrency. “They’re not investing for the long term,” says Aires. “Crypto and sports betting are treated like another hustle — higher risk, but potentially higher return.”
Even with monthly incomes under R5,000, the average Gen Z saves over a third of their earnings. “That blew me away,” says Aires. “They’re scraping together cash from gigs and still putting away R1,800 a month. That’s resilience.”
V for good value
South Africa’s Gen Z isn’t broke. They’re just budgeted. And they’re watching what you do more closely than you think. Almost all (over 99%) young South Africans surveyed are signed up to at least one retailer loyalty program. “No surprise, given this cohort’s hustle mentality. They make sure they get the best deals and discounts,” says Aires.
The most popular loyalty programs are Shoprite Xtra Savings (83.59% have an account) and Pick n Pay Smart Shopper (75.16% are subscribed), followed by Clicks Club (60.07% have a Club Card), and Spar Rewards (with 54.62% of signed up).
No loyalty. No contracts. No nonsense.
Forget brand loyalty. “They’re loyal by convenience,” Aires explains. “It’s Tinder behaviour. Brands want a marriage, but this generation is dating. Suppose it’s working, great. If not, they swipe left.”
“They don’t want contracts. They want pay-as-you-go flexibility. If they need data today, they buy it today. If they need it tomorrow, they’ll look again. Everything is modular, disposable, and instant.”
What do Gen Z want? The report states that good customer service (78.8%) and value for money (77.5%) are top priorities. Gen Z doesn’t want your friendship — they want value and respect. But don’t expect faithfulness in return.
“They don’t care if your brand is on social,” says Aires. “They’ll come to you when they need you. But you’d better show up with a good app, service, and deal.”
This is a generation of hyper-rational, hyper-flexible consumers. “They don’t want you to act cool. Just be useful,” Aires says. “Offer value, make it seamless, and respect their time and choices. That’s it.”
From campus to consumer power
Student Village has been tracking youth trends for two decades. It began as a platform connecting brands to university students and now includes a dedicated youth marketing consultancy. Aires started it after his own time in student leadership. “We saw the gap early,” he says. “And we’ve watched this generation evolve.”
He sees a generation “rewriting the script on branding”.
“They’re not going to follow your funnel,” Aires says. “They don’t want to be sold to. They want to be seen. Brands need to stop talking and start serving. Show them respect, offer value, and give them the freedom to choose.”
The bottom line for brands and agencies?
This isn’t just a financially aware generation. As Aires says, they’re media natives who’ve rewritten the rules of engagement. While the world adjusts to digital transformation, South Africa’s Gen Z was born into it. In South Africa, they spend over nine hours a day on screens, more than any other nation in the world. But they’re not just consuming; they’re creating, monetising, and building entire micro-economies. rom TikTok challenges that fund their side hustles to Instagram Stories that showcase their latest retail finds, their media consumption is anything but passive. It’s participatory.
Transformed digital natives
Bin the traditional media funnel, when it comes to reaching this segment. Gen Z audiences discover brands on TikTok, conduct research on Instagram, discuss topics on WhatsApp, and make purchases on mobile devices. They spend over 4.5 hours a day on TikTok alone, not just watching, but learning, earning, and building their personal brands.
For media buyers and marketers who still think in terms of “reach” and “frequency”, this generation demands a fundamental shift in approach. Gen Z wants to be engaged, and they want authentic conversations.
The opportunity is unprecedented in a country where the majority of Gen Z actively seek brand content on social media. You just need to understand how to speak their language.
Charles Lee Mathews is a senior editor to MarkLives MEDIA and a senior writer to MarkLives.com, as well as co-founder of The Writers, a writing consultancy.
