Economic experts have cautioned that the nationwide protest, which is scheduled to begin today morning in at least six cities across the nation, may have a negative impact on investment and corporate confidence in South Africa.
SAFTU and COSATU, two trade union federations, are anticipated to lead thousands of demonstrators in six cities throughout the nation in a demonstration against growing living costs, load shedding, and other socioeconomic problems the nation is now facing.
Isaah Mhlanga, Alexander Forbes’ chief economist, has issued a warning that despite the protests’ stated goal of spurring policymakers into action, they may have a detrimental effect on business confidence and foreign investment in South Africa.
The national shutdown that results from a rise in the cost of living is not exclusive to South Africa; it has also happened in other nations like Sri Lanka, Italy, and the UK, where ultimately the leaders changed the country’s governance. Therefore, it is something that actually happens quite frequently, along with the rise in the cost of living.
