Johannesburg - It was too early to tell what effect last week's earthquake in Japan will have on the South African economy, Finance Minister Pravin Gordhan said on Monday.
"It will have some impact. It is too early to assess," he said of Friday's tragedy that saw thousands being killed and just as many nationals missing, in the world's third largest economy.
A day after the 9.0 magnitude earthquake and tsunami, an explosion occurred at the Fukushima No. 1 nuclear power plant, destroying the roof and walls of the building of the No. 1 reactor's outer container.
An explosion also occurred at the Cosmo Oil refinery in Chiba Prefecture following the massive quake. On Monday, there was an explosion at the plant's No. 3 reactor.
Crippled by Friday's massive earthquake and tsunami, workers have been battling to stave off multiple reactor meltdowns at the Fukushima plant. Over 180 000 people have been evacuated from the area, and up to 160 may have been exposed to radiation, latest figures show.
"Right now, it is important to extend our solidarity to the people of Japan. Perhaps in a couple of weeks we will know the extent thereof," said Gordhan, who was addressing students at the Investment Forum of the Association of Black Securities and Investment Professionals Student Chapter (ABSIP) at Wits University.
Meanwhile, a team of about 50 specialists including doctors, paramedics and rescue dogs is expected to leave for Japan this evening. The South African team will carry about 16 tons of food, specialised equipment and camping gear, as they make their way to Japan to try and assist in the search for survivors.
The Japanese stock market has plunged over the likelihood of huge losses that would be incurred, including work stoppages by big names such as Toyota and Honda.
