• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION
No Result
View All Result
1
Home South Africa

The unrest and looting in KwaZulu-Natal and Gauteng will further discourage investor confidence: Economist

12 July 2021, 5:20 PM  |
SABC SABC |  @SABCNews
Police patrol the streets after overnight unrest and looting in Alexandra township, Johannesburg, South Africa, September 3, 2019.

Police patrol the streets after overnight unrest and looting in Alexandra township, Johannesburg, South Africa, September 3, 2019.

Image: Reuters

Police patrol the streets after overnight unrest and looting in Alexandra township, Johannesburg, South Africa, September 3, 2019.

Economist Dr. Iraj Abedian says the unrest and looting in KwaZulu-Natal and Gauteng will further discourage investor confidence in South Africa.

Violent protests in the country have been sparked by last week’s arrest and imprisonment of former President Jacob Zuma.

The army has been deployed at hotspots in both provinces – to assist law enforcement agencies to quell the unrest that has gripped the country.

Abedian says this is a lose-lose situation.

The impact is that we see a further cut in the confidence the investors have both locally and internationally.

“The loss of confidence, whether from blacks or whites at the end of the day it’s a loss to society. It’s a loss of another few thousand jobs. Families tomorrow will lose their daily bread. Some people are going to lose their jobs while others are likely to go hungry and that is a reality that we need to talk to but whether we call white monopoly capital or something else the reality is that we are on the same boat we cannot sink the boat. Otherwise, we will go to a simple outcome of more poverty for everybody and the poor will be once again on the receiving end of it” says Dr. Iraj Abedian

KZN and Gauteng protests update in the video below:

Months of recovery

Meanwhile, Business Unity South Africa’s CEO Cas Coovadia says President Cyril Ramaphosa should use the disaster management laws to act against the ongoing looting and destruction of property which also undermines the government’s COVID-19 regulations.

Coovadia says it will take months for businesses that have been looted and vandalised to recover. BUSA joins the South African Chamber of Commerce and Industry and Business Leadership South Africa in the condemnation of the looting of businesses.

“It will take weeks if not months for those business premises that have been destroyed and looted to actually be ready for doing business again and this will have an impact on people’s employment. And we call the President to consider using the disaster regulation because these people are also violating covid regulations and we’ve had precedent where the President under the stewardship of the police mobilised the military to deal with people who had broken COVID regulations.” – Additional reporting by Naledi Ngcobo

Share article
Tags: The unrest and looting in KwaZulu Natal and GautengSouth African Police ServicesSA Army
Previous Post

VIDEO | President Ramaphosa addresses the nation on public violence in parts of SA

Next Post

Chef and media personality Lesego Semenya has died

Related Posts

Russian flagged Lady R transits Bosphorus in Istanbul, Turkey April 11, 2023.

Nothing was loaded onto Lady R: SANDF Chief

29 May 2023, 7:20 PM
Babies inside of cardboard boxes at Mahikeng Hospital in the North West

SAMA disappointed with newborns in boxes debacle

29 May 2023, 6:24 PM
Natassja Jansen after being granted bail

Natassja Jansen’s legal counsel welcomes her bail conditions

29 May 2023, 5:40 PM
File: Collins Chabane Municipality mayor Moses Maluleke speaking at an event

Current Collins Chabane Mayor wants predecessor’s murder case quickly concluded

29 May 2023, 4:17 PM
Babies inside of cardboard boxes at Mahikeng Hospital in the North West

Unions protest against suspension of nurses in newborns in a box debacle

29 May 2023, 3:01 PM
Five accused appear in the Bloemfontein Magistrate court for formal bail application on May 23, 2023.

VIDEO: Accused 1 to 4 in Thabo Bester escape denied bail

29 May 2023, 1:46 PM
Next Post
Rest in peace file image

Chef and media personality Lesego Semenya has died

Most Viewed

  • 24hrs
  • Week
  • Month
  • DENOSA defends nurses for placing newborns in boxes
  • Limpopo teacher writes a book which simplifies Maths
  • North West Health probes why newborn babies were placed in boxes
  • Majodina refutes allegations of soliciting a bribe from Mkhwebane
  • Pending court cases interfering with my duties: AmaZulu King
  • Dr Nandipha’s looks during court appearances under the spotlight
  • Experts raise caution over Prime energy drink craze
  • 108-carat ‘fancy intense pink’ diamond discovered in Lesotho
  • Dr Nandipha Magudumana, co-accused in Thabo Bester’s escape to apply for bail
  • Reserve Bank expected to increase repo rate on Thursday
  • Highly unlikely Majodina attempted to solicit funds from Mkhwebane: FF+
  • Bester’s lawyer to challenge procedures of his re-arrest in Tanzania
  • VIDEO: Accused 1 to 4 in Thabo Bester escape denied bail
  • Alleged rhino poaching kingpin to appear in court
  • Gift of the Givers releases Gerco van Deventer’s “proof of life” video

LATEST

Russian flagged Lady R transits Bosphorus in Istanbul, Turkey April 11, 2023.
  • South Africa

Nothing was loaded onto Lady R: SANDF Chief


Babies inside of cardboard boxes at Mahikeng Hospital in the North West
  • South Africa

SAMA disappointed with newborns in boxes debacle


Natassja Jansen after being granted bail
  • Thabo Bester saga
  • South Africa

Natassja Jansen’s legal counsel welcomes her bail conditions


Smoke rises above buildings after an aerial bombardment, during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North
  • Africa

UN warns more than one million may flee Sudan conflict


File: Collins Chabane Municipality mayor Moses Maluleke speaking at an event
  • South Africa

Current Collins Chabane Mayor wants predecessor’s murder case quickly concluded


Mauricio Pochettino applauds fans after a match.
  • Sport

Pochettino handed task of reviving Chelsea’s fortunes


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2023

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION

© 2023

Previous VIDEO | President Ramaphosa addresses the nation on public violence in parts of SA
Next Chef and media personality Lesego Semenya has died