One year after the July unrest investor confidence in the province of KwaZulu-Natal is yet to be restored with many businesses across the country weary of whether their money remains safe.
“The manufacturing sector saw damage to manufacturing plants and lingering logistical issues which pushed up the cost of production. ▪ LG electronics, a TV manufacturing plant in Durban which opened in January 2020 creating 100 jobs in the process, was burned down and its warehouse looted. Efforts to encourage the company to rebuild its factory are underway.
▪ Toyota SA suspended production at its Prospecton plant in Durban and exports from the plant were halted. At least 11 of the properties suffered fire damage, necessitating an extensive rebuild process. The cost of repairing the buildings was estimated at over R385m.Zikalala said almost a third of the claims received by Sasria after the unrest had yet to be paid out.
“While plans to rebuild some of these centres are in motion we remain worried at the ongoing impact on jobs and access to services from the community. Bridge City is targeted to open in March 2023.”
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