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

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....

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Cosatu to strike over state capture, corruption & exploitation

Cosatu to strike over state capture, corruption & exploitation

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

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

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

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

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

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

Popular articles
Opinion:  Bishop Lekganyane is right

Opinion: Bishop Lekganyane is right

Stephen Grootes weighs in on comments made by the Zion Christian Church Bishop at the weekend.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Getting to know MP, Dr Makhosi Khoza

Getting to know MP, Dr Makhosi Khoza

Dr Khoza is admired by South Africans for her role in the SABC inquiry as a ANC member of parliament.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

Jack Mabaso resurrected on 'Generations The Legacy'

Jack Mabaso resurrected on 'Generations The Legacy'

Will Jack Mabaso's return to the realm of Generations boost ratings? Well it seems not all viewers are impressed by the come-back.