Truck attacks exacerbating lack of investment interest in SA, warns economist

  • 📰 ecr9495
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Economist Dawie Roodt says South Africa is becoming less and less attractive as an investment destination. ECRNewsWatch KZN

He's been commenting on the recent spate of arson attacks on trucks in KwaZulu-Natal and other parts of the country.

Unknown suspects have torched more than 20 trucks - nearly two years after the deadly riots in Gauteng and KZN also began with the burning of trucks.Police believe the latest attacks are not connected to the 2021 riots. They have identified 12 persons of interest in connection with the violence, although no arrests have been made."The effect of this simply will mean that it is going to become more expensive to transport stuff between Gauteng and KZN. That will have an impact on business but also on things like prices, and we know we have an inflation problem in South Africa."The biggest thing it will impact on the South African economy will probably be felt over years.

"As foreigners and local investors realise that South Africa is becoming less and less attractive as an investment destination. We should see less investments in South Africa, and that eventually will result in lower economic growth as well."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 38. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines