Immigration Xenophobia In South Africa: Businesses Brace For More Unrest
By Semafor Africa Photos: Wikimedia Commons Xenophobic unrest in South Africa has become a painful cost of doing business, executives warned, signalling that companies are bracing for a prolonged instability in a country eager to draw fresh investment. Protesters in Africa’s biggest economy — which is already grappling with the world’s highest unemployment rate, collapsing municipal services, and intensifying political agitation — have vowed weekly marches demanding the expulsion of foreigners, souring boardroom sentiment. South Africa’s “collective folly and ineptitude on migration” is making it harder for businesses to trade with the rest of the continent, said Sim Tshabalala, chief executive of Standard Bank Group. Economists say an exodus of foreign workers will trigger labor shortages and economic blowback, ultimately harming local businesses and informal markets that activists say they want to protect. Read on for more about how xenophobic protests are hitting Africa’s largest economy. →
Black News 
By Semafor Africa
Photos: Wikimedia Commons
Xenophobic unrest in South Africa has become a painful cost of doing business, executives warned, signalling that companies are bracing for a prolonged instability in a country eager to draw fresh investment.
Protesters in Africa’s biggest economy — which is already grappling with the world’s highest unemployment rate, collapsing municipal services, and intensifying political agitation — have vowed weekly marches demanding the expulsion of foreigners, souring boardroom sentiment.
South Africa’s “collective folly and ineptitude on migration” is making it harder for businesses to trade with the rest of the continent, said Sim Tshabalala, chief executive of Standard Bank Group. Economists say an exodus of foreign workers will trigger labor shortages and economic blowback, ultimately harming local businesses and informal markets that activists say they want to protect.
Read on for more about how xenophobic protests are hitting Africa’s largest economy. →
