R3.9 billion for Sasria to focus on small businesses that were looted

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Matshepo Sehloho

110 days ago
 R3.9 billion for Sasria to focus on small businesses that were looted Alexandra community members cleaning up after days of looting that saw many shops and businesses vandalised. Picture: Abigail Javier/Eyewitness News.

The South African Special Risk Insurance Association (Sasria) has paid more than R5.8 billion in claims to businesses affected by the July unrest and looting in KwaZulu-Natal and Gauteng.

The state-owned insurer now says it will focus to small businesses after Treasury allocated an additional R3.9 billion to the entity.

RELATED: 'Sasria, pay 30% of the insured amounts now – businesses are desperate for cash'

Bongani Bingwa chats to Sasria's executive manager for stakeholder relations management Muzi Dladla to explain how the additional funds will be allocated.

He says no one could have predicted the July unrest and it is estimated that the unrest was bigger than what other countries experienced.

We have received all the claims that there are to receive, 100% of all the claims and the movement is still going to be there for the next couple of months particularly for the large claims. Up to R500 million for the large policy holder and those are the numbers we are talking about.

Muzi Dladla, Executive manager for stakeholder relations management - Sasria

He says Treasury has allocated R3.9 billion so that Sasria can pay all the claims up to R30 million.

Listen below to the full conversation:

This article first appeared on 702 : R3.9 billion for Sasria to focus on small businesses that were looted

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