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SA economy bleeds billions of rands every year

South African economy bleeds billions of rands every year due to rampant illicit activities


The South African economy is hemorrhaging billions of rands annually as a result of an influx of illicit activities such as illegal mining, counterfeiting, wildlife trafficking, bootleg fuel and contraband cigarettes and alcohol.

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This dire news was brought to light in a recent report issued by the Transnational Alliance to Combat Illicit Trade (TRACIT) in collaboration with Business Unity South Africa (Busa).

The report illuminates how illicit trade can be one of the gravest threats to economic stability and growth in South Africa.

TRACIT has made clear that the country battles against nefarious dealings on many fronts – including but not limited to fish, electronics, pharmaceuticals, foodstuffs and apparel.

Esteban Giudici from TRACIT reported that according to the World Economic Forum’s findings this issue has become so immense that it now ranks amongst their top 5 risks for the nation’s economy.

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