(2 minutes read)
- The rioting in parts of South Africa in July caused damages worth US$1.7 billion (25 billion rand). This is the extent of damage put out by the state insurance company handling the claims
- In the riot that took place after the arrest of former President Jacob Zum, over 300 people lost their lives and over 200 shopping centers were looted in the KwaZulu Natal and Gauteng provinces
- The rioters also ransacked shops and stole groceries, liquor, electrical appliances and clothes. Considerable damages were caused to factories and warehouses
The rioting in parts of South Africa in July caused damages worth US$1.7 billion (25 billion rand). This is the extent of damage put out by the state insurance company handling the claims. In the riot that took place after the arrest of former President Jacob Zum, over 300 people lost their lives and over 200 shopping centers were looted in the KwaZulu Natal and Gauteng provinces. The rioters also ransacked shops and stole groceries, liquor, electrical appliances and clothes. Considerable damages were caused to factories and warehouses.
The unrest damaged South Africa’s economy. The freight trucks were burned in KwaZulu-Natal causing immense damages to businesses. Sasria, South Africa’s government insurance company is now seeking funds from President Cyril Ramaphosa’s government to cover all the claims from businesses and individuals. South Africa’s riots were among the most expensive in the world in the last 10 years, surpassing damages caused in riots in various U.S. states over the killing of George Floyd in 2020. Sasria representatives addressed the country’s Parliament recently and asked for a financial bailout from state coffers to cover the shortfall it will face in settling all claims.
