Lerato Mailoane
The economic cost of last month's unrest in the province now stands at R5 billion, with over 18 000 jobs lost.
"As per the ongoing 'audit' being undertaken by Gauteng Department of Economic Development and the rapid response team, the updated number of jobs affected by the riots now stands at 18 217 from the previously reported 14 500," said Gauteng Premier David Makhura on Tuesday.
Makhura was answering questions during a virtual sitting of the Gauteng Legislature on Tuesday afternoon.
Eighty out of 500 shopping malls in Gauteng were looted and vandalised during the unrest. Small businesses including spaza shops were also attacked.
During the unrest, eighty shopping malls were affected by violent looting and out of the insured shops, R3.5 billion was lost in stock and damages, ranging between R30 000 and R500 000 losses per individual business.
"The province also experienced major disruptions in logistics and supply chain. The full employment impact affected mostly the small businesses. The unrest also affected investor confidence," Makhura said.
The International Monetary Fund (IMF) has projected 1.4 percent of the Gross Domestic Product (GDP) will be affected and the impact is going to be severe. 
"It will take a bit of time for the province and the country to recover from the looting going into next year," the premier said.
Arrests were made following the looting. There were also threats of renewed unrest last week.
Makhura said police are now better prepared to deal with any threats.
Government has also introduced interventions to ensure speedy recovery of the township economy is a matter of utmost urgency. 
"This week we announced a total of R100 million in the form of the Gauteng Rebuilding Fund as our response to the plight faced by our township economies in the wake of the combined devastation of the COVID-19 and the effects of the unrest.
This amount comprises the R50 million committed by the Gauteng Provincial
Government and a further R50m raised through partnerships with the Industrial Development Corporation. 
"Qualifying enterprises from Gauteng can now apply for financial and non-financial support through the Gauteng Enterprise Propeller online application system or by visiting GEP regional offices. 
"This funding will be offered as a 50/50 blend of loan and grant and will also help small enterprises get back on their feet by covering for rebuilding costs, repairs, replacement of infrastructure, inventory, equipment and critical supplies," Makhura added.
The fund will benefit SMMEs that are uninsured. "We need to emphasise that the focus of this fund is on SMMEs which suffered losses caused by COVID 19 and looting and is not open to businesses that have claimed from insurance," he added.​