stolen

It’s been stated as fact that South Africa has lost R700 billion in public money to corruption since the advent of democracy in 1994.

With “Corruption Fact ” – that South Africa has lost R700 billion to corruption over the last 20 years – trade unions and civil society organisations have been rallying citizens to join marches against corruption.

One of the Unite Against Corruption march organisers and former general secretary of trade union Cosatu, Zwelinzima Vavi said “R700 billion could have been used to address the principal challenges of South Africa.”

The Institute of Internal Auditors launched an Anti-Intimidation and Ethical Practices Forum, an association of different organisations fighting corruption.

The forum’s chair and head of the Institute of Internal Auditors South Africa, Claudelle von Eck, reportedly said: “The cost of corruption in the last 20 years… we have lost R700-billion.”

From R30 billion a year to R675 billion since 1994.

See how we up with “R700 billion lost to corruption in South Africa in the last 20 years”.

1. South African treasury official Sonwabo Tshoko stated in a 2010 presentation: “It has been estimated that R30 billion per year, which is 20% of the overall government procurement budget of R150 billion, is being lost or is disappearing into a black hole of fraud and corruption.”

2. South Africa’s then head of the Special Investigating Unit, Willie Hofmeyr, said in parliament in October 2011 that about 20% of the annual procurement budget, or about R25 billion a year” is lost to corruption.

3. The head of the Institute for Accountability, Paul Hoffman, said ”about R30 billion per year disappears because of corruption.”

 

Irregular, illicit outflows, unauthorised or wasteful expenditure has contributed to this.