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....


Recommended

by NEWSROOM AI
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
Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

Tax ombud to probe Sars – yet again - after taxpayers complain

Tax ombud to probe Sars – yet again - after taxpayers complain

The Money Show’s Bruce Whitfield interviews Adv. Eric Mkhawane, CEO at the Office of the Tax Ombud.

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

International law enforcement expert and former Drug Unit Commander Lobo das Neves says ruling opens a different can of worms.

Comair reports record earnings, 72nd profitable year in a row – a world record!

Comair reports record earnings, 72nd profitable year in a row – a world record!

Recession, soaring fuel costs and surplus capacity - yet profits keep coming! Bruce Whitfield interviews Comair CEO Erik Venter.

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.