…populist movements targeting foreigners have been labelled as flawed.
A report by Statistics South Africa reveals that business insolvencies in the country rose by 134 percent month-on-month in July 2026 to nearly 900 this year, while national unemployment climbed to a four-year high of 33.6 percent in the second quarter.
Further, SABC news reports that the net loss of 16,000 formal jobs between April and June has expanded the active job-seeking population by 345,000, bringing total unemployed citizens to nearly 8.5 million. When accounting for discouraged job seekers, the expanded unemployment rate hovers near 43 percent.
Together, these metrics expose a deepening structural crisis where corporate liquidations and job losses reinforce one another, undermining consumer confidence and eroding macroeconomic stability.
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