SA unrest to prove costly for economic activity

20 July 2021 | Economics

The current unrest in South Africa will likely prove costly for the country in terms of damage to property, dampening subdued confidence and weighing on broader economic activity, ratings agency Moody's said last week.

The continent's most industrialised economy has been gripped by some of the worst violence in decades after the jailing of former President Jacob Zuma.

The spate of arson and looting has destroyed hundreds of businesses and killed at least 70 people.

"The recent escalation of violence in several regions represents a manifestation of South Africa’s exposure to social risks inherent in its credit profile, stemming from the high levels of income inequality and unemployment, particularly among the youth," Aurelien Mali, a senior credit analyst at Moody's, told Reuters.

"A protracted period of unrest would further complicate an already difficult challenge the authorities face in progressing the structural reform agenda, restoring the health of public finances and reviving longer-term growth prospects."-Nampa/Reuters

Similar News

 

National Consumer Protection Policy launched

19 hours ago | Economics

PHILLEPUS UUSIKUThe National Consumer Protection Policy 2020-2025 and the Namibia GS1 License was launched on Wednesday in Windhoek.According to the Minister of Industrialisation, Trade and...

Marketing Namibia as an investment destination

19 hours ago | Economics

PHILLEPUS UUSIKUThe ease of doing business, quality of roads and infrastructure, political and economic stability, good governance and judiciary independence are some of the factors...

Economy crawls into the green

19 hours ago | Economics

Jo-Maré Duddy WINDHOEKNamibia’s economy grew by 1.6% for the three months ended 30 June, the first positive year-on-year quarterly growth since the...

Nigeria aims to boost oil output

19 hours ago | Economics

Nigeria said Wednesday it aims to produce 1.88 million barrels per day of crude oil next year and the budget will be based on the...

Submissions open for Hollard Sport Awards

19 hours ago | Economics

STAFF REPORTERLockdown and the limitations on gatherings and events have driven those in the sports marketing and promotional space to have to adapt, digitise, dig...

GIPF applauded for fighting Covid-19

19 hours ago | Economics

STAFF REPORTERThe Government Institutions Pension Fund (GIPF) is proud to announce its contribution towards the fight against Covid-19 through an investment into FabuPharm (Pty) Ltd....

Economic growth positive in second quarter

1 day - 23 September 2021 | Economics

Jo-Maré Duddy – Namibia’s economy in the second quarter grew by 1.6% on annual basis, recovering from -6.7% the previous quarter and -11.6% in the...

Environment providing a good buying opportunity

1 day - 23 September 2021 | Economics

PHILLEPUS UUSIKUDespite interest rates being at record lows and providing a good buying opportunity, economic challenges faced by consumers and low confidence in future economic...

British employers offer more signing bonuses

1 day - 23 September 2021 | Economics

Some British employers are offering more signing bonuses to tackle labour shortages and overcome hiring bottlenecks, data from Indeed Hiring Lab’s quarterly report showed on...

UK inflation expectations jump in September

1 day - 23 September 2021 | Economics

The British public's expectations for inflation over the next year and over the longer-term jumped this month, raising the risk that the Bank of England...

Latest News

Marketing Namibia as an investment...

19 hours ago | Economics

PHILLEPUS UUSIKUThe ease of doing business, quality of roads and infrastructure, political and economic stability, good governance and judiciary independence are some of the factors...

Forklifting failure

19 hours ago | Others

Natasja ByleveldAre you OK thinking about unconventional ideas that could uplift society and norms to a higher standard? Do you like a challenge, or do...

Big thinker who is not...

19 hours ago | People

Contrasting with his considered, analytical, and steady approach to life, Rolf Mendelsohn is an undisputed adventurer. Together with the other founders of Paratus, Rolf...

Children abused as govt turns...

19 hours ago | Police

JEMIMA BEUKES WINDHOEKStaff at a centre for orphans and vulnerable people in Katutura...

Economy crawls into the green

19 hours ago | Economics

Jo-Maré Duddy WINDHOEKNamibia’s economy grew by 1.6% for the three months ended 30 June, the first positive year-on-year quarterly growth since the...

Oxygen giant spreads misinformation in...

19 hours ago | Health

MADLEN DAVIES and TUYEIMO HAIDULA LONDON/OSHAKATI One of the world’s biggest industrial gas companies spread misinformation in an attempt to stop...

Nigeria aims to boost oil...

19 hours ago | Economics

Nigeria said Wednesday it aims to produce 1.88 million barrels per day of crude oil next year and the budget will be based on the...

Submissions open for Hollard Sport...

19 hours ago | Economics

STAFF REPORTERLockdown and the limitations on gatherings and events have driven those in the sports marketing and promotional space to have to adapt, digitise, dig...

An easy ride-hailing platform

19 hours ago | Others

Wetumwene Shikage The everyday experience for many Namibians of getting a taxi to from different locations has been made more convenient. TaxiConnect provides an easy...

Load More