The violence and looting has caused SA and its people incalculable damage and harm
A general view of burning trucks after violence erupted following the jailing of former South African President Jacob Zuma, in Durban, South Africa, July 14, 2021. REUTERS/ROGAN WARD
Depending on the category of vehicle, type and value of cargo, and the specialised equipment required for the cargo, this can be anywhere from R3m to R10m per vehicle. A simple calculation of capital losses of the 40 trucks destroyed to date amounts to about R250m-R300m. And while I write this more vehicles are being destroyed.
Freight moving through SA ports has been severely disrupted, and some cargo owners and customers will choose to move cargo through neighbouring countries in future. This has already been happening as SA ports become increasingly inefficient and the surrounding ports develop, improve and increase their efficiency.
The consumer will ultimately foot the bill — through indirect charges relating to the cost of logistics, the need to build reserves to repair damaged infrastructure, and as goods become scarce. Supply and demand will dictate costs — and if supply cannot meet demand, demand will drive up prices.
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