Registered users can save articles to their personal articles list. Login here or sign up here

Cost of political depravity, corporate scandals on employers

The World Bank estimates that the equivalent of $1 trillion is offered in bribes every year.

Bribery runs so rampant in the world that it has become a Darwinian business tool. Transparency International’s 2017 rankings place SA 43rd on the list of most corrupt countries, clubbing it together with two thirds of the world where bribery trumps better judgment.

The spectacular collapse of the South African Social Security Agency and Sars on the back of attempts to capture the state and statesmen clearly suggests that corruption is not a victimless crime. Besides costing some R1 trillion to the economy and a few lives, corruption is a threat to job creation. Some 35 000 jobs were lost in the second quarter of 2018 in the formal sector.

Bryan Hattingh, CEO of Cycan, talks to Classic Business Breakfast with Moneyweb about the effects of corruption on employers and employees. 

COMMENTS   0

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

GO TO SHOP CART

Follow us:

Search Articles:Advanced Search
Click a Company:
server: 172.17.0.2