Business mogul warns of social upheaval amid rising unemployment

PROMINENT businessman Sandile Zungu has warned that the recent jobs bloodbath, combined with the already sky-high unemployment rate, is creating a toxic mix that could lead to social upheaval in the country.

- THAMI MAGUBANE

Speaking in an exclusive interview with The Mercury, Zungu said all the ingredients for social unrest are now present. With decades of experience in business and a range of investments, including the ownership of AmaZulu Football Club, Zungu is well-positioned to comment on the state of the economy.

Zungu discussed the struggling economy, which has been battered by USA tariffs and a wave of retrenchments and business closures. He noted that as a result of the current economic challenges, the factors contributing to social upheaval are now coming together in the country.

South Africans are becoming jobless, with several industries announcing closures or job cuts. Labour unions have expressed extreme concern about the shedding of jobs, stating that there seem to be daily announcements about businesses closing down or retrenching staff.