Supermarket group Pick n Pay (PnP) says it has lost R930 million in revenue due to the unrest in July. However, most of the losses will be covered by insurance, which has already paid out about R600 million. Read more.
Tags : looting
After already facing severe impacts because of the Covid-19 pandemic, South Africa faced new challenges and a hit to its economy during July, following unrest and looting in Gauteng and KwaZulu-Natal, costing businesses billions, and leading to claims worth over R6 billion, putting a significant amount of pressure on the South African Special Risk Insurance Association (SASRIA). Read more.
Stock markets around the world rallied Thursday as the U.S. temporarily unblocked a political stalemate that threatened to push the United States into default. Read more.
A week after South Africa, especially KwaZulu Natal and Gauteng, experienced deadly riots, the financial implications have finally been calculated. In these two provinces, there were 200 malls targeted, with 3 000 shops looted during the protests. Read more.
South Africa has seen a type of violence, unrest, and pillaging during the last few days that has not been experienced since 1994. Read more.
The past week has been a living nightmare for many South Africans, especially those in the Gauteng and Kwa-Zulu Natal provinces. While riot death tolls are well over 70 and 25% of Covid-19 tests are turning up positive, many are saying that it is the worst spate of violence since 1994. Read more.
Financial losses due to the violent protests and massive destruction of property in the country could add up to billions of rand or more. Read more.