Illicit Trade Threatens South Africa's Economy
Johannesburg News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
South African business leaders sound the alarm on illicit trade, threatening jobs, public health, and investor trust. During the Proudly South African Buy Local Summit, experts call for stricter government action to combat job losses and economic harm. The impact is felt across industries, with alcohols legal sector employing 250,000 people and contributing billions to the economy, yet illicit booze now holds 18% of the market. Pharmaceuticals face even greater risks with fake drugs threatening lives. Recent busts reveal the scale, and industry groups are forming task forces. Closer collaboration between tax authorities and law enforcement is urged to protect South Africas economy and consumers from hidden dangers.
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