ANCYL chaos costs Johannesburg R30m

2011-09-01 07:43
Johannesburg - The chaos caused in the Johannesburg city centre by ANC Youth League members in support of embattled leader Julius Malema will have a major impact on the country’s economy.

According to the city’s Chamber of Commerce and Industry CEO, Keith Brebnor, the city suffered financial losses of between R30m and R50m on Tuesday, according to a report in The Times.

He added though that the damage to South Africa’s investor image could be even more serious. He likened Tuesday’s events to the recent riots in the UK, saying that SA’s image would be affected in the same way.

Brebnor said there was a perception that South Africa was becoming more unstable and a less desirable trading partner.

Other economists agreed, saying that ANCYL supporters were sending out negative messages to the rest of the world.  

The protests at Luthuli House on Tuesday made headline news around the world with many newspapers speculating on how it would affect potential investment.
 
Read more on:    ancyl  |  julius malema  |  johannesburg  |  politics  |  protests
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
290 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/Beauty

Jobs in Cape Town [change area]

Jobs in Western Cape region

Graphic Designer - Packaging

Cape Winelands
Cozens Recruitment Group ( Western Cape)
R15 000 - R18 000 Per Month

Salesman/Foreman (Property Developer) Brackenfell

Cape Town Northern Suburbs
West Coast Personnel
R9 000 Per Month

Web Developer

Cape Town
Kids Industries
R20 000 - R30 000 Per Month

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Up to 40% off fashion accessories

Save up to 40% on selected handbags, purses, watches, jewellery and more. Offer valid while stocks last. Shop now!

Save up to R2000 on top electronics

Get every day mind bowing savings on top electronics. Offer valid while stocks last. Shop now!

As seen on TV - New book releases at only R199 each

Get mind blowing book savings on new titles. Offer valid while stocks last. Shop now!

Save up to 50% on Women’s month treats!

Celebrate the awesome women in your life with awesome treats like beauty products, fashion accessories, bestselling books, electronics and more. Offer valid while stocks last. Shop now!

Up to 60% off - clearance sale!

Save up to 60% on appliances, books, electronics, toys, movies and more. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

The virtual world can be very tempting to escape into but focus on also being present and keeping your feet anchored in reality....read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.