As difficult as it may be, let me attempt to analyse and discuss the mayhem, looting and destruction that our province experienced these past few days, in the name of our constitutionally enshrined right to protest, purely from an economic point of view.
Firstly, those business owners lucky or far-sighted enough to be adequately insured, will in all likelihood, be able to recover their losses to buildings and stock through their insurance carrier. The question is, how many of them are going to be willing to put themselves through the trauma, sweat and tears of rebuilding a business from the ground up.
I submit that many of them are going to use the net proceeds of their pay-outs to retire, and live off their investments. So what of their staff, suppliers, and service providers, the impact on their supply and value chains is too horrific to contemplate.
Secondly, every one of those businesses destroyed by the protesters employed their fathers, mothers, sisters or brothers.
Come next week when the loot has been sold, eaten or drunk, where is the money going to come from to put food on the table? Prepare for grave developments on the provincial unemployment front in the weeks to come.
Thirdly, with almost the entire provincial economy closed for day (and maybe more) the loss of income runs into the billions.
Finally, what has this done to the confidence of the business sector in the province? No amount of incentives, cajoling, pretty pictures or fancy soundbites is going to repair the helplessness and loss of confidence in the government, whose prime purpose many feel, is the safety and security of its citizens.
The impact on potential foreign investors is even more scary to consider. I would love to be a fly on the wall of Trade and Investment Kwazulu-Natal’s boardroom, as they scramble to explain the last few days away.
Vijay Naidoo writes in his personal capacity as CEO of the Port Shepstone Business Forum.
The views expressed are the author’s own and do not necessarily reflect those of this publication.
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