Corruption in South Africa has reached epidemic levels and threatens the lives of all South African citizens. Money lost due to government corrupt could have been used to better the lives of all South African citizens, especially the poor.
Global Financial Integrity said in a report that
South Africa had suffered an illegal outflow of R185-billion due to corruption in the public sector between 1994 and 2008, it is estimated that in 2009 government corruption totalled R70 billion.
In 2010, audit firm BDO reported that company fraud in South Africa was “escalating at an alarming rate” and estimated that the “total annual leakage” from fraud, theft and corruption amounted to R100 billion.
Mr. Willie Hofmeyr, then head of the Special Investigating Unit (SIU) told South Africa’s Parliament that between
R25-billion and R30-billion of government’s annual procurement budget alone was lost to corruption, incompetence and negligence.
A further four cases, valued at R171-million and involving several departments within government are currently being investigated by the SIU.
Lawson Naidoo of the Council for the Advancement of the South African Constitution said: "It's estimated that
20% of the GDP is lost to corruption annually.
South Africa as a nation has lost a staggering R385 billion since 1994 due to corruption at every level in government.
http://www.news24.com/MyNews24/Corruption-SA-Counting-The-Cost-20120508