The South African authorities estimated cost to the economy in KwaZulu-Natal province alone has been put at well over $1bn (£730,000) and about 150,000 jobs have been put at risk by the unrest.
According to a minister in the president’s office, the unrest and looting had affected 40,000 businesses in KwaZulu-Natal Province.
Khumbudzo Ntshavheni the South Africa’s Property Owners Association, said more than 200 shopping centres had been looted. She said over $1m worth of stock was lost in Durban alone.
Poverty and unemployment played a big role in the looting
the minister said 150,000 jobs had been put at risk by the unrest hence leaving uncertainty to the economy in the future.
