SA GDP to contract significantly: Bureau for Economic Research

Luyanda Jafta, CEO and co-founder of The People's Fund, spoke to eNCA's Tumelo Mothotoane. Courtesy of #DStv403

JOHANNESBURG - South Africa's GDP is in for a significant contraction in the third quarter of this year according to research from the Bureau for Economic Research.

Businesses are beginning to assess the cost of the damage after a week of looting and unrest.

READ: NatJoints tells looters to return stolen goods or risk arrest

Massmart has confirmed that 41 of its stores were affected, with the majority of these located in KwaZulu-Natal.

While Toyota has resumed production at its plant in KZN following the looting, the company has asked the local government for a recovery action plan.

Tiger Brand and Pioneer Foods were also forced to stop the production of bread in KZN last week.


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