BUSINESSES needed to prepare for a rise in social unrest incidents as the cost-of-living crisis followed hard on the heels of the Covid pandemic, Allianz Global Corporate & Specialty (AGCS) yesterday warned.
While South Africa is not among the 37 countries with high projected levels of unrest in the next six months, it was among several major markets that sit just outside the “perfect storm”category, the insurer said.
Several major markets, including India, Brazil, Russia, South Africa, Indonesia and Turkey, sit just outside this category.
While the risks for South Africa were slightly less acute, they would remain significantly elevated.
According to the Verisk Civil Unrest Index Projections, 75 countries would likely see an increase in protests by later this year, resulting in, for example, a higher frequency of unrest…