NIKKI MILICH: As a bakery owner I am very concerned about inflation as the rand drops, especially the food prices. It is going to be devastating for the general population.
We took to the streets of Joburg to ask residents how the tumbling rand is affecting them. Here is what they had to say …
GREG GRAHAM: I am from Jamaica and would say that South Africa is not as bad as where we are. The concerns that people are raising at this stage is important so that the country does not reach the point of no return.
NADIA MUSTHAN: I am a business student and I feel scared for the South African economy and future entrepreneurs. South Africa’s status as one of the economic powers in Africa will be seriously harmed by the rand losing its value.
ZEZA LOPES: I am feeling the effect of the rand dropping. Lifestyles have to change because people will have less money in their pockets as prices will escalate. It is all going to be a knock-on effect. There will be fewer jobs and an increase in crime.
TASNEEM BOOYSENS: It’s shocking that the rand has lost its value so quickly. It affects mostly those who travel abroad. Costs all around are going to increase drastically.
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