SA’s Illicit Economy Costs R100 Billion Annuall

In South Africa, Minister of Trade, Industry and Competition, Parks Tau, says the illicit economy is costing South Africa 100-billion-rand annually, undermining industrialisation and job creation. Tau highlights importers’ practices like under-declaring goods’ value and misusing rebates, affecting local manufacturers. He says an Inter-Agency Working Group has been formed, focusing on scrap metal, gold, clothing, textiles, footwear, and leather to combat this: