More than R120 Million in hard cash was looted from ATMs and banks during the recent ANC violence that swept through parts of Gauteng and KwaZulu-Natal in mid-July. This amount is much higher than the initial estimates and does not include the repair costs.
At least 1,227 ATMs and 310 bank branches were vandalized or destroyed between July 9 and 17, during the period of violent looting that left hundreds of shops in ruins, killing more than 300 people. This is according to the latest count by the South African Banking Risk Information Center (SABRIC), which outlined the serious consequences of the “unprecedented destruction” ‘of banking infrastructure.
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