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I think it will heavily depend on: https://www.moneyweb.co.za/news/south-africa/can-sasria-honour-claims-of-up-to-r30bn/Also super surprised to see the ZAR rebound. I suspect most of it is due to external factors and ZAR being a gateway for other emerging currencies than anything else.
So will need a treasury bailout, and the question is in regards to where the funding for that bailout will come, which will likely have an effect, but up until they announce that, should be fine.Sapoa president Andrew Konig quoted from estimated figures supplied by the eThekwini Economic Development and Planning Committee, stating that:
- Some R1.5 billion has been lost in stock;
- Property damage exceeds R15 billion;
- Over 50 000 informal traders have lost their livelihoods; and
- Approximately 1.5 million people have lost their potential to earn an income.
There are also some 150 000 jobs at risk.
Konig says the overall result of the past five days of devastation is an estimated loss to GDP upwards of R20 billion.
Sasria has publicly estimated the damage at anything from R3 billion to R10 billion. An earlier report quoted Masondo as saying that damage could amount to between R3.5 billion and R7 billion, while he said in a later interview with Reuters that damage could be as high as R10 billion.
Read: Insurance claims from unrest seen at up to R10bn – govt insurer
Coincidently, he also mentioned that Sasria will be able to settle claims of up to R10 billion with its “own balance sheet”.
Masondo later said that damages could be as high as R12 billion.