TRACIT calls for improved measures to combat illicit trade in South Africa Johannesburg, 30 May 2023 – A new study by the Transnational Alliance to Combat Illicit Trade (TRACIT) shows that illicit trade is one of the biggest threats to stability and economic growth in South Africa. While the country has taken steps under President Ramaphosa to root out illegal trade and associated activities like corruption and money laundering, the scope and depth of the illicit economy poses a significant threat to the health and wellbeing of South African citizens and a persistent drain on the overall economy. It is critical that the South African Government prioritizes efforts to combat illicit trade and the underlying conditions that facilitate it,” said TRACIT Director of Programs Esteban Giudici. “Left unaddressed, illicit trade and its associated criminal activities will continue to rob the government of essential tax revenue and deter investments in the country.”
Global independent private organisation the Transnational Alliance to Combat Illicit Trade (Tracit) has published a report on illicit trade activity in South Africa, with recommendations on how the country can increase its efforts to curb the problem.
For South Africa to achieve its critical development objectives, it must effectively tackle what is a pervasive and complex problem of illicit trade that undermines and corrodes the entire economy, Business Unity South Africa (Busa) states, in hosting the launch of the report on behalf of Tracit.
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