News24.com | #UnrestSA: Over R150 million worth of Tiger Brand's stock looted thumbnail

News24.com | #UnrestSA: Over R150 million worth of Tiger Brand’s stock looted

Jungle Oats maker Tiger Brands has temporarily shut down its operations in KwaZulu-Natal

Jungle Oats maker Tiger Brands has temporarily shut down its operations in KwaZulu-Natal

South Africa’s largest manufacturer Tiger Brands has lost over R150 million worth of stock in the looting and vandalism affecting parts of KwaZulu-Natal and Gauteng.

On Thursday, the owner of the Tastic, Beacon and Fatti’s and Moni’s brands said it is assessing the extent of damage to its property and infrastructure and is quantifying the loss of profit due to business interruption. But most of the damage had been to its rice, snacks and treats operations.

Due to the volatility, Tiger Brands has closed all its operations temporarily in KwaZulu-Natal and other affected areas.

“In addition, bakery operations and the distribution of bread have been suspended in the KwaZulu-Natal region, whilst deliveries of bread in Gauteng have been affected by challenges in accessing certain areas, as well as the closure of customer stores,” said Tiger Brands.

The company added that it has made claims with its insurers. And is also engaging with the government, while supporting law enforcement agencies working to reopen key distribution routes and a safe environment for normal business activity to resume.

The SA Special Risk Insurance Association, said it expects to pay out claims of more than R7 billion, the biggest since the 1994 pre-elections disorder.

The unrest, initially driven by supporters of former president Jacob Zuma, brought parts of Gauteng and KwaZulu-Natal to a standstill. Zuma was arrested just before midnight on Wednesday following a Constitutional Court order finding him guilty of contempt of court and sentencing him to 15 months behind bars.

The chaos has since let to general lawlessness and destruction of property. Rioting has since led to the temporary closure of the N3 – which connects Johannesburg to Durban – owing to the torching of trucks by looters, combined by attacks on warehouses.

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