Six successive shocks over the past three years have cost South Africa’s economy as much as R850 billion, according to estimates from the department of trade and industry. Between early 2020 and the third quarter of last year the economy was upended by two global and four local crises that manifested in quick succession, Trade, Industry and Competition Minister Ebrahim Patel said.
The shocks were listed as the global pandemic, the worst civil unrest since apartheid in July 2021, the war in Ukraine, severe flooding in the eastern coastal province of KwaZulu-Natal province in 2022, rolling blackouts, known locally as load shedding, and logistics constraints.
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