SA loses R700bn to corruption

JOHANNESBURG - South Africa has lost R700bn to corruption over the last 20 years, the Institute of Internal Auditors said on Wednesday.

"The cost of corruption in the last 20 years... we have lost R700bn," CEO Claudelle von Eck said at the launch of the Anti-Intimidation and Ethical Practices Forum in Johannesburg.

Von Eck, who is the forum's chairperson, said people who tried to report corruption were often muzzled.

"Members are being intimidated when they try and raise the issue of corruption in an organisation."

Von Eck said the forum aims to educate its members about corruption, advise them how to reveal corruption, and what to do when whistle-blowers are intimidated.

It was intended to be a professional collective voice which would make pronouncements about the state of governance in the country.

"We cannot be silent. As professionals we should be able to say this is what the state is, this is what we need to do to rectify things."

The forum consists of an executive committee, agencies who can take action, interested organisations, and an evaluation panel.

"As professionals we have a responsibility, an understanding that our responsibility does not begin and end just at our desk and just at our jobs. We've got to carry South Africa," she said.

Comments (2)

kikikiki, eish South Africans vakomana. They cry foul of less than $70bn in 20 years. thats corruption at its infancy. Come to Zim where real corruption takes place. I mean that figure in Zim can be achieved in less than 5 years.

jore - 28 January 2015

The only reason why SA is still vibrant even after losing staggering amounts to corruption is because their economy is still generating lots of revenue from all sectors, and the investors are still keen to put their money in the country. Unlike in our motherland where looters are fattening themselves yet there is little activity in the economy, the only resounding activity being vending which doesn't bring any meaningful contribution to the economy if ever it does.

Master P - 28 January 2015

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