R700bn lost to corruption in 20 years | Fin24
  • Moving Target

    What if FlySafair were to run embattled SAA? asks Ferial Haffajee.

  • Air Quality

    Activists acknowledge their court action is a 'baptism of fire' for Barbara Creecy.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.


R700bn lost to corruption in 20 years

Jan 28 2015 10:46

Johannesburg - South Africa has lost R700bn to corruption over the last 20 years, the Institute of Internal Auditors said on Wednesday.

"The cost of corruption in the last 20 years... we have lost R700bn," CEO Claudelle von Eck said at the launch of the Anti-Intimidation and Ethical Practices Forum in Johannesburg.

Von Eck, who is the forum's chairperson, said people who tried to report corruption were often muzzled.

"Members are being intimidated when they try and raise the issue of corruption in an organisation."

Von Eck said the forum aims to educate its members about corruption, advise them how to reveal corruption, and what to do when whistle-blowers are intimidated.

READ: IFP worries over corruption in KZN

It was intended to be a professional collective voice which would make pronouncements about the state of governance in the country.

"We cannot be silent. As professionals we should be able to say this is what the state is, this is what we need to do to rectify things."

READ: Act on corruption in E Cape - SACP

The forum consists of an executive committee, agencies who can take action, interested organisations, and an evaluation panel.

"As professionals we have a responsibility, an understanding that our responsibility does not begin and end just at our desk and just at our jobs. We've got to carry South Africa," she said.

NOW READ: Corruption alarm in nuclear deal
                    AG: State spent R21.1bn irregularly

sa economy  |  corruption  |  state spending


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

Money Clinic

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

Voting Booth

SARS has lifted the tax return threshold from R350 000 to R500 000 per year. What are your thoughts on this??

Previous results · Suggest a vote