Protecting South Africa’s Industrial Future
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Examine illicit trade through the lens of South Africa’s wider economic and industrial priorities
South Africa has put reindustrialisation at the heart of its economic strategy, seeking to rebuild productive capacity, deepen local value chains, attract investment and create jobs. Yet the expansion of illicit trade presents a significant obstacle to that ambition.
Across sectors including tobacco, alcohol, fuel, mining, pharmaceuticals, clothing and consumer goods, illicit activity diverts demand from legitimate businesses, erodes the tax base and creates an uneven competitive environment for companies operating in the formal economy. Research by Econometrix estimates that the country's illicit market across 12 sectors is around R280 billion annually, displacing some R193 billion in formal production and more than 87,000 direct formal jobs.
This high-level Financial Times briefing, held in partnership with PMI, will bring together government, business, enforcement agencies and economic experts to examine illicit trade through the lens of South Africa’s wider economic and industrial priorities. Discussions will consider the interaction between fiscal policy, enforcement and market incentives; the regional supply chains that sustain illicit activity; its impact on businesses and communities; and how stronger intelligence, coordination and public-private cooperation could support formal investment, employment and revenue.
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Key Discussion Points
Reindustrialising in the shadow of the illicit economy
How significant a barrier is illicit trade to South Africa’s industrial ambitions, and what combination of policy responses could help address it?
From enforcement to disruption — building a whole-of-economy response
How can government, enforcement agencies and legitimate business move from episodic interventions towards sustained disruption of illicit supply chains?
Restoring the legitimate economy — what can South Africa achieve by 2030?
What would need to change over the next four years to deliver those outcomes — and how should progress be measured?
"The speakers and their insightful input on illicit trade and how transnational crimes can be looked froma a different perspective."
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Speaking Opportunities
Courtney Fingar
courtney.fingar@ft.com
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