A SANDF soldier patrols a looted mall In Alexandra, Johannesburg, in this file photo from July.SA's state-owned insurance company Sasria is in talks with National Treasury for a larger bailout than the R3.9bn already promised, its MD told a parliamentary committee on Wednesday.
More than 300 people died and about 3,000 shops were looted in the immediate aftermath of Zuma's arrest, with anger over entrenched poverty and inequality fuelling the violence. The economic impact in the two worst-hit provinces, KwaZulu-Natal and Gauteng, is estimated at tens of billions of rand. “The liquidity is not as big a problem for us as solvency ... because we need to recapitalise the business. When we had a good balance sheet of R10bn, the riots wiped out that balance sheet so we need to recapitalise,” he said.
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