We South Africans prize our personal safety so much that, even in these tough economic times, paying for protection against crime comes second only to putting food on the table. Because many of us feel that the police cannot guarantee our safety, we turn to private security companies to keep us safe in our homes and protect our businesses.As a result, the number of private security officers dwarfs the police's manpower. There are about 445 000 registered security guards compared with about 270 000 police, army and other state security officers.Statistics such as these provided the ammunition for two police ministers and the ruling party to push through parliament the Private Security Industry Regulation Amendment Bill, which would force foreign-owned security companies to sell 51% of their businesses to South Africans. Proponents of the amendment, which now awaits President Jacob Zuma's signature, argue that it is essential to our national security.Until now, all efforts by the private security industry and organised business to convince the government to back down, because the proposed law would unravel property rights, undermine investment, cost thousands of jobs and possibly result in sanctions, have failed.But the threat by US-owned security companies to seek a review of the African Growth and Opportunity Act, which offers South Africa hugely beneficial trade and investment terms, if the amendment becomes law, appears to have given the government pause for thought.It should not be pressure from the Americans that causes Zuma to send the bill back to parliament. It is a terrible law - unnecessary because all registered security guards have to be South Africans. It would cost many thousands of jobs because it would cause foreign-owned security companies to disinvest.And it would tell the world that South Africa is an unsafe investment destination...