Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Crime casts pall over business

Sep 22 2009 18:16 James Monteiro

Related Articles

Ad firms to 'shout' down crime

Malls defenceless against crime

65 000 'cloned' firms culled

Crime, labour worry firms

More armed police at malls

Small firms 'lack money skills'

 

Top Stories

Mantashe: We don't need the West

May 23 2012 09:47

Western investors must realise SA does not need their money as it can now turn to fellow Brics members for funding, says ANC secretary general Gwede Mantashe.

E-toll case goes to ConCourt

May 23 2012 08:10

Several parties, including government, have launched a Constitutional Court appeal against an interdict temporarily halting the e-toll project, Outa says.

Facebook, banks sued over pre-IPO calls

May 23 2012 18:03

Facebook and banks are being sued by Facebook's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its initial public offering.

 
Share Share line Print

Johannesburg - Burglaries at business premises increased by 11.1% in 2008/'09 - the highest increase in six years, according to figures presented to parliament's portfolio committee on police on Tuesday.

Police Minister Nathi Mthethwa attempted to pre-empt concerns about the statistics, saying the data offered a "mixed bag".

Reported cases of commercial crime, including corruption, banking scams, counterfeit goods and fraud, was 18.7% higher than the previous year - the highest increase since 2002.

Public violence cases increased by 67.6% from the previous year, which was also the highest percentage change year-on-year for the six-year period.

Last week Graham Wright, newly appointed CEO of Business Against Crime South Africa (Bacsa), said: "Due to the pervasive nature of crime, these levels affect not only the business community, but citizens, investors and travellers to the country."

In a media release, Bacsa said: "This year, crime and theft have been identified as the most problematic factors."

On Tuesday, the police ministry's Zweli Mnisi told the media: "We made some headway and identified some areas where we still need to."

Blue and white collar crime are sore points for big business in South Africa, according to Transparency International and the World Economic Forum.

Transparency International, a coalition tackling global corruption, said in its annual Corruption Perceptions Index (CPI) that South Africa ranked 54th out of 184 countries reviewed.

In its global competitiveness report for 2008-2009, the World Economic Forum said South Africa was the worst place to do business out of 133 countries - a direct result of crime.

- Fin24.com

 
 
Comment on this story
0 comments
Comments have been closed for this article.
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Sasha

"The way that I read it is simple, more regulation often leads to higher costs, and whilst law makers think that their intentions are well founded, it is generally the customer, in this case the patient that suffers."       Jozi, Jozi. 26 o 12' 16" S, 28 o 2' 44" E . Call it a relief... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...