The cost of corruption and the hi-tech way SA businesses are helping to fight crime
WATCH | In conversation with Jannie Durand, CEO of Remgro Limited
Welcome to 'Building a better South Africa, together', a six-part web series brought to you by Anglo American in partnership with News24.
'Building a better South Africa, together' aims to leverage the country’s collective strength and discuss how all of society can tackle three triple challenges: crime and corruption, energy challenges and infrastructure issues.
In the third episode, news broadcaster Nzinga Qunta sits down with Jannie Durand, CEO of Remgro Limited, to discuss the various ways South African businesses are coming together to tackle crime and corruption.
Crime and corruption are issues that affect all South Africans. Durand and Qunta discuss how the costs of corruption have affected the country’s ability to collectively grow as an economic powerhouse.
While it is difficult to estimate an exact number that is lost to corruption due to either direct costs, indirect costs or unintended consequences, Durand says the estimates are anywhere between R500 billion and R1 trillion – or between 10% and 20% of the SA GDP.
“Even if the estimate is at the lower end of that number, like R500 billion, that is actually more than the market cap of the biggest banking group in South Africa."
Jannie Durand, CEO of Remgro Limited
Jannie Durand, CEO of Remgro Limited
But while citizens may feel despondent by this figure, Durand says there is room for optimism when it comes to a recent memorandum of understanding that SA businesses have agreed upon to help fight crime and corruption.
One of this partnership’s workstreams that Durand co-chairs wants to improve businesses’ ability to tackle crime. Enter ‘Business Against Crime’ - an initiative from the 1990s which has been revived again to invest in tactics and initiatives that can help tackle crime.
Business Against Crime’s purpose is to help provide surveillance information and gather powerful data to help law enforcement agencies prosecute, among other things.
Other questions tackled by Qunta and Durand include:
- How do you measure results to tackle crime and corruption?
- How does the rest of society outside of the business umbrella get involved?
- What is the importance of businesses being responsible corporate citizens beyond just profits?
Watch Episode 3's conversation below, as Durand and Qunta dive deeper into these issues.
You too can decide how you want to be a part of building a better South Africa, together by joining the conversation at the social links below:
In the next episode of Building a better South Africa, together, Qunta chats to Richard Price, Legal and Corporate Affairs Director at Anglo American, to discuss the rule of law and its effect on South Africa’s ability to leap forward.
Join the conversation below at Anglo American's social media pages:
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