More than 150 000 Jobs at Risk Following July Riots
Written by Mfundo on 9 September, 2021
By: Lindelani Mbatha
Finance Minister Enoch Godogwane says the July riots in KwaZulu-Natal and Gauteng, cost the country’s economy about R50 billion.
Godogwane, as part of the Economics Cluster had been answering questions in a hybrid sitting of the National Assembly.
The wave of looting and arson attacks cost the KZN economy alone more than R20-billion and placed more than 150 000 jobs at risk.
Around 40 000 formal businesses in the province were affected, which also negatively impacted more than 50 000 informal traders, the vast majority of whom were not insured.
Godogwane says official statistics on the affected sectors will be reflected in the 3rd quarter numbers.
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