Interview: Looting of shops a blow to S. African economy, says expert

0 Comment(s)Print E-mail Xinhua, September 6, 2019
Adjust font size:

JOHANNESBURG, Sept. 5 (Xinhua) -- The looting and burning of shops is a blow for South Africa's quest to reduce unemployment, growth the economy and improve the business confidence, said a South African economic expert on Thursday.

The South African Chamber of Commerce and Industry (SACCI) President Mtho Xulu told Xinhua that "we are worried that such looting and violence is disruptive to the business activity. Some innocent and law abiding businesses lost their livelihood particularly the small and medium enterprises and some will not be able to recover. This erodes confidence in business."

He said it would be difficult to convince some local and foreign business community to invest as some would fear that their properly would be looted and burnt. Furthermore, It will make it difficult for South Africa companies to expand into other African markets for fear of retaliation or revenge attacks.

Some South African people on Sunday went on rampage, breaking into shops stealing property and burning shop and cars. Some trucks were also burnt with consignments.

South Africa companies such as MTN, Shoprite and MultiChoice were attacked in Nigeria in retaliation to the looting and burning of Nigerian shops.

"Law enforcement agents have to immediately stop the violence to allow business activity to take place. We have to restore relations with other nations and demonstrate that what happened is not the position of the majority of South African but few minorities," said Xulu.

Xulu observed that the looting would affect the country's image in Africa and the world. Enditem

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from