Minister Patel says corruption is costing the country R27 billion a year

Minister Patel says corruption is costing the country R27 billion a year

1 September 2017 1:34 PM

Economic Development Minister Ebrahim Patel says corruption is costing the country dearly.

He says South Africa's GDP loses nearly R27 billion a year to corruption.

The minister was speaking at the Competition Law, Economics & Policy Conference in Johannesburg on Thursday.

Corruption Watch Executive Director, David Lewis, explains how this affects jobs and investments.

There were particularly strong knock on effects on investment when the ratings downgrade happened, that was widely attributed by those agencies themselves. I think they used the euphemistic term 'governance issues' at the time...
— David Lewis, Corruption Watch Executive Director

When South Africa underperformed other mining economies in investment terms, many blamed that on insecure property rights, but that again is a lack of clarity as to how regulations and laws are implemented.
— David Lewis, Corruption Watch Executive Director

Click on the link below to listen to the full audio....

Written by: Neo Koza

Recommended

Cosatu to strike over state capture, corruption & exploitation

Cosatu to strike over state capture, corruption & exploitation

1 September 2017 9:48 AM

The federation announced it would lead a nationwide strike against state capture and corruption on 27 September.

Report shows growing outrage (across all sectors of society) at corruption

Report shows growing outrage (across all sectors of society) at corruption

31 August 2017 6:29 PM

The Money Show’s Bruce Whitfield interviews Corruption Watch Executive Director David Lewis.

Hawks deny Duduzane Zuma cleared of corruption and state capture

Hawks deny Duduzane Zuma cleared of corruption and state capture

30 August 2017 12:37 PM

The Hawks say that they are surprised by some contents contained in an open letter written by Jacob Zuma's son Duduzane Zuma.

BLSA pledges to invest in communities, root out corruption

BLSA pledges to invest in communities, root out corruption

24 August 2017 8:23 AM

Business Leadership South Africa's CEO says it is concerning that the economy of SA is benefiting the Zuma and Gupta families.

Africa Report: Nigeria releases its first ever corruption survey

Africa Report: Nigeria releases its first ever corruption survey

23 August 2017 9:06 AM

Southern Africa Editor of the Africa Report Crystal Orderson also discusses Angolan elections taking place on Wednesday.

DA says the first phase of nuclear deal has been found to be corrupt by AG

DA says the first phase of nuclear deal has been found to be corrupt by AG

22 August 2017 5:50 PM

The DA is in possession of extracts of the AG’s forthcoming report for the financial year ending 31 March 2017.

'Perhaps somebody is misleading the Public Protector'

'Perhaps somebody is misleading the Public Protector'

12 November 2018 9:47 PM

Bishop Malusi Mpumlwana gives his take on the supposed 'fightback' against Pravin Gordhan.

'I don’t spend much. I drive an old car. I’ve never been in debt'

'I don’t spend much. I drive an old car. I’ve never been in debt'

12 November 2018 8:47 PM

Bruce Whitfield interviews analyst Chris Gilmour about his attitude toward money (hopes and fears, successes and failures, etc.).

3 best shares to buy this week (by Cannon Asset Managers)

3 best shares to buy this week (by Cannon Asset Managers)

12 November 2018 7:02 PM

Dr Adrian Saville shares his stock picks of the week.

Daughter of Timol murder accused Joao Rodrigues reveals sexual abuse

Daughter of Timol murder accused Joao Rodrigues reveals sexual abuse

12 November 2018 5:55 PM

Tilana Stander talks about the abuse she suffered at the hands of her father.

[LISTEN] My Life Beyond HIV

[LISTEN] My Life Beyond HIV

12 November 2018 4:50 PM

Pholokgolo Ramothwala chats to Azania about living with HIV and his newly released book, My Life Beyond HIV.

WATCH: Crash, bang, wallop! How would YOU explain this to YOUR boss?

WATCH: Crash, bang, wallop! How would YOU explain this to YOUR boss?

12 November 2018 3:52 PM

The woman comes out of the crash without a scratch but is visibly distressed by the incident that she may have to explain later.

[LISTEN] Steinhoff explained: 100 times more looted in Steinhoff saga than VBS

[LISTEN] Steinhoff explained: 100 times more looted in Steinhoff saga than VBS

12 November 2018 12:14 PM

Steinhoff’s Web of Deception: An Explainer with Financial Mail journalist Warren Thompson.