The staggering sum of R47bn is the estimated cost to the economy of stolen copper and other metals.
Minister of trade, industry and competition Ebrahim Patel briefed the media in Cape Town early on Wednesday morning on new regulations proposed by the government to curb the theft of copper and other metals.
“How do you quantify households, communities and hospitals being without electricity because scrap merchants have stripped public infrastructure?” he asked.
“We are absolutely determined to stop the stripping of public infrastructure. It has enormously serious consequences, not only for our economy but also for the livelihoods of our citizens.”
Patel was joined by police minister Bheki Cele and public enterprises minister Pravin Gordhan as he announced proposed government regulations for trading in copper and ferrous metal.
“This is important because these measures will require traders to show where they bought the copper and metal and who they are selling it to. There will also be a prohibition on cash transactions and a tightening at borders which will limit the number of ports that can be used,” said Patel.
“There is going to be a commercial cost on some businesses that have built their economic model around export of scrap metal, but measure that against the enormous cost to the economy of doing nothing and it is substantially higher.”
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WATCH | Government wages war on copper and metal theft
The staggering sum of R47bn is the estimated cost to the economy of stolen copper and other metals.
Minister of trade, industry and competition Ebrahim Patel briefed the media in Cape Town early on Wednesday morning on new regulations proposed by the government to curb the theft of copper and other metals.
“How do you quantify households, communities and hospitals being without electricity because scrap merchants have stripped public infrastructure?” he asked.
“We are absolutely determined to stop the stripping of public infrastructure. It has enormously serious consequences, not only for our economy but also for the livelihoods of our citizens.”
Patel was joined by police minister Bheki Cele and public enterprises minister Pravin Gordhan as he announced proposed government regulations for trading in copper and ferrous metal.
“This is important because these measures will require traders to show where they bought the copper and metal and who they are selling it to. There will also be a prohibition on cash transactions and a tightening at borders which will limit the number of ports that can be used,” said Patel.
“There is going to be a commercial cost on some businesses that have built their economic model around export of scrap metal, but measure that against the enormous cost to the economy of doing nothing and it is substantially higher.”
TimesLIVE
Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
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