eThekwini damage estimated at R15bn - Mboweni

eThekwini damage estimated at R15bn - Mboweni

Finance Minister Tito Mboweni says the estimated total damage to property and infrastructure during the violent unrest in eThekwini alone is about R15 billion.

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"There was destruction of shops, shopping malls, network towers, post offices, factories, roads, freight, trains and so on. 

"All of these destruction does not add to positive value for our society and once again I would like to join the president in condemning these acts." 


He was speaking at a briefing on Wednesday on relief packages announced by the president over the weekend.


They include assistance for businesses that were affected by the looting and destruction.


Mboweni said some are already getting help.

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"So firstly, those businesses which are insured we are fortunate enough in South Africa that we have the South African Special Risks Insurance Association (SASRIA). 


"SASRIA has commenced and will commence with the payment of insurance claims immediately in order to assist those businesses to come back to life. 


"SASRIA is a very special mechanism which was developed - unfortunately but now we are benefiting from it - during the apartheid period to cover for riots."

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