South Africa unrest

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South Africa unrest  hit 40,000 businesses, Government says.

Tons of businesses to over 40,000 were reported to have been affected in South Africa following unrests in the country from the detainment of Jacob Zuma who served as a former president.

At least 40,000 South African businesses across were looted, burnt or vandalised during widespread rioting that broke out after the jailing of ex-president Jacob Zuma, the government said.

The total losses to the national economy are estimated to be 50 billion rand ($3.4 billion), according to a government statement released stating virtually no part of the economy has not been affected by the violence”.

The aftermath of the riots have also affected the supply of food, fuel and pharmaceuticals with shops and stores closing temporarily.

Unfortunately, the effects of Covid 19 on African businesses have not fully watered down, with some businesses shut down while some can barely survive. Thankfully, some businesses were able to thrive. However with this unrest scene at South Africa hitting a large chunk of businesses, a major setback hits the South African entrepreneurial space.

A basic income grant has been discussed as part of one of the major interventions from the Government to assist communities, households and businesses that have been affected by the unrest.

 

 

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