South Africa Economy Set to Take $3.4 Billion Hit From Riots

Violent Protests have placed estimated 150,000 jobs at risk
Unrest was triggered by jailing of former President Zuma

Debris cover the floor between empty shelves inside a Supa Store supermarket following rioting in the Soweto district of Johannesburg, on July 15.Photographer: Waldo Swiegers/Bloomberg

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By S'thembile Cele and Leah Wilson

July 20, 2021 at 3:40 PM UTC

Updated on

July 20, 2021 at 4:06 PM UTC

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A week of deadly riots in South Africa could cost the country about 50 billion rand ($3.4 billion) in lost output, while 150,000 jobs have been placed at risk, the Presidency said, citing estimates from the South African Property Owners Association.

About 200 malls were targeted and some 3,000 shops were looted during the protests, while 200 banks and post offices were vandalized, acting Minister in the Presidency Khumbudzo Ntshavheni told reporters in Pretoria, the capital, on Tuesday.