Telkom has joined MTN and Vodacom in shutting stores in violence-torn KwaZulu-Natal, and has now decided to close its outlets countrywide until further notice as a precautionary measure.
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The rand dropped to a three-month low on Tuesday as concerns grew over escalating violence in the country following the jailing of former President Jacob Zuma.
Protesters clashed with police in several areas of South Africa and looters ransacked shopping malls on Tuesday as frustrations over poverty and inequality boiled over into the country’s worst unrest in years.
Violent protests have dealt a body blow to South Africa’s efforts to rebuild the economy in the wake of the coronavirus pandemic and pose the sternest test yet to President Cyril Ramaphosa’s authority.
President Cyril Ramaphosa pleaded for calm following days of protests that were triggered by last week’s incarceration of his predecessor and have claimed 10 lives, forced businesses to shut and weakened the rand.
Some of South Africa’s largest companies were forced to halt operations as violence erupted in parts of the country, with rioters torching trucks and looting stores.
South Africa will deploy soldiers to quell violence that erupted in the wake of former president Jacob Zuma’s jailing, the military said on Monday, after days of riots and looting left at least six people dead.
The World Bank has warned that here is a risk that most of the potential economically active population could be left behind, with the pandemic permanently impairing the country’s long-term prospects.
The performance of Eskom’s generation fleet has been steadily increasing from the disappointing below-60% plant availability in April, and supply has consistently exceeded demand over the past week.
A powerful winter weather system, approaching South Africa from the west, has prompted Eskom to ask the public to reduce the usage of electricity to prevent possible load shedding.