The ANC’s “Mafia State” is robbing the economy of at least R155 billion a year - Dr Dion George

Loading player...
Organised crime syndicates are bleeding South Africa’s national economy of R155 billion a year - and that number is “significantly understated”. That is according to Democratic Alliance (DA) Shadow Minister of Finance, Dr Dion George. He gives this breakdown: Construction mafia - R17 billion; Infrastructure vandalism and arson - R47 billion; ESKOM’s organised crime networks R12 billion; Kidnapping and extortion syndicates - R146 million; Illicit economy, specifically drugs and guns - R13.6 billion; Wildlife syndicates - R1.2 billion; Illegal mining networks (Zama Zamas) - R14 billion; Tender corruption - R30 billion; and the Tobacco and cigarettes Mafia - R20 billion.” He calls on Government to make organised crime a priority - and to stop wasting resources on “never-ending bailouts to basically bankrupt entities”.  Dr George says South Africa is only on its knees because the government has chosen the wrong economic policies.
28 Sep 2023 12PM English South Africa Investing · Business News

Other recent episodes

Unlocking High-Yield Private Debt: The Jaltech Income Opportunities Fund

Join the leadership team at Jaltech for an exclusive overview of the new Jaltech Income Opportunities Fund - a spin-off from their highly successful Section 12J investment strategy. Designed to target structured debt funding for established, mid-sized South African businesses, this fund addresses an unserved niche left open by traditional…
24 Jul 5AM 29 min

BN Daybreak: Zille on Joburg's last chance; AI stock warnings; Cape gangs; Civic tech

In today's BizNews Daybreak, Helen Zille warns Johannesburg faces its final chance to reverse municipal collapse. Heindrich Wyngaard explains why military presence alone cannot dismantle the Cape Flats' deep-rooted gang economy. Lance Dickson introduces "Ryze," a platform channeling public rage into organized civic action. Finally, Sean Peche cautions investors against…
23 Jul 11PM 15 min

Parliament faces protest over lagging legislation for a provincial referendum

In this interview with Chris Steyn, Heindrich Wyngaard, the executive chairperson of Cape Forum, details plans for a protest outside the National Assembly next month over the long wait for appropriate legislation to enable a provincial referendum . “And we are also planning to be present at that Home Affairs…
23 Jul 9AM 18 min