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.
In this latest CxO Insights profile, we meet Sun International CIO Pragasen Pather, who has also had an interesting career in tennis. He speaks about trends, tennis and current challenges.
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.
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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.
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