KZN still in recovery from July Unrest and now faced with the economic impact of the floods.
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The large scale looting and burning in KwaZulu-Natal last year damaged business confidence in the province, leading to one of South Africa’s largest truck and trailer building companies, Serco, starting this year with its lowest order book since the huge financial crisis of 2008!
Serco’s CEO and President of the Durban Chapter of Entrepreneurs Organisation Clinton Holcroft said 2021 had been a tough year for business in KZN. “I believe the unrest took the wind out of our company’s sails, evident in that our usual end of year peak period failed to materialise. I attribute this to a large extent to the loss of business confidence and the extensive property damage which resulted in many businesses not being able to resume trading by the end of the year, if at all,” said Holcroft.
Serco’s CEO and President of the Durban Chapter of Entrepreneurs Organisation Clinton Holcroft said 2021 had been a tough year for business in KZN. “I believe the unrest took the wind out of our company’s sails, evident in that our usual end of year peak period failed to materialise. I attribute this to a large extent to the loss of business confidence and the extensive property damage which resulted in many businesses not being able to resume trading by the end of the year, if at all,” said Holcroft.
