The unrest and anarchy that left over 200 dead and many more beaten and broken, and properties razed to the ground, added to the woes of a crippling economy with many small businesses in tatters. Experts believe that the protests, sparked by the incarceration of former president Jacob Zuma, have dealt body blows to business and livelihoods that could take years to recover from.
Luyanda Jafta, the CEO and Co-Founder of The People’s Fund, a crowdfunding platform for small black-owned businesses, tells FORBES AFRICA that this was a ticking time bomb waiting to happen.
“We are staring down the barrel of the demise of the structure of South African society,” Jafta says. “South Africa is one of the most unequal societies in the world and our transformation objectives have failed.”
The unrest was stoked by multiple factors: Zuma loyalists who want the former president released from prison; “opportunistic criminals” as President Cyril Ramaphosa said in his nationwide address; and crucially, also the poor and desperate grabbing the opportunity to loot and put food on the table.
After the outbreak, Zuma virtually appeared in the Pietermaritzburg High Court on July 19 to face 16 charges of fraud, corruption, and racketeering related to the 1999 purchase of fighter jets, patrol boats, and military gear from five European arms firms when he was deputy president.
Diese Geschichte stammt aus der August - September 2021-Ausgabe von Forbes Africa.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der August - September 2021-Ausgabe von Forbes Africa.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
TRACK, WATCH, BEFRIEND
IN THE PRISTINE WILDERNESS OF GABON ARE THE MAJESTIC AND GENTLE WESTERN LOWLAND GORILLAS. A FIRSTHAND REPORT FROM OUR TRAVEL WRITER ON WHAT GOES INTO HABITUATING THEM.
CHALLENGING BUT NECESSARY: THE AI BALANCING PROBLEM
Artificial intelligence (AI) continues transforming many industries, providing unprecedented opportunities for innovation and efficiency. However, these advancements bring complex challenges that necessitate a delicate balancing act.
BEYOND ACADEMIA: THE SOCIETAL IMPACT OF MULTILATERAL EDUCATIONAL COLLABORATIONS
The great poet William Butler Yeats once said, \"Education is not the filling of a pail, but the lighting of a fire.\"
The Business Of Dance: Embracing One's Individuality And Style
In the dynamic world of street dance, passion and perseverance pave the way for success. Living out this ethos is South African born B-girl turned businesswoman, Courtnaé Paul.
COMPASSION FATIGUE: THE DANGEROUS DESCENT FROM HELPING TO HURTING
It is a workplace reality that caring too much for your colleagues can hurt you.
IT HAS NEVER BEEN MORE CRITICAL TO FIND OUR NICHE
Have you found your niche? I received a lot of advice when I set up my company, but perhaps the most important consisted of just three words: Find Your Niche.
HOW TO MAKE AFRICA WIN OFF THE FIELD TOO
When all else fails, try sports. It's good for the soul.
BEAN THERE, DONE THAT
British author Roald Dahl tapped into every chocoholic's imagination when creating Willy Wonka's bizarre chocolate factory in his 1964 children's novel Charlie and the Chocolate Factory.
IT DOESN'T GET ANY BETTER THAN WORKING WITH AL PACINO ON BROADWAY'
Arnold Vosloo Actor
BLENDED FINANCE: BRIDGING THE GAP IN EMERGING MARKETS IN SUPPORT OF THE SDGS
Amid the widespread global support for the United Nations' Sustainable Development Goals (SDGs), there was an underlying concern among economists and financial advisors in the emerging and frontier markets: public sector and donor funds were stalled, if not regressing, and the funding gap to realize the SDGs was increasing.