Minister Patel says corruption is costing the country R27 billion a year

Economic Development Minister Ebrahim Patel says corruption is costing the country dearly.

He says South Africa's GDP loses nearly R27 billion a year to corruption.

The minister was speaking at the Competition Law, Economics & Policy Conference in Johannesburg on Thursday.

Corruption Watch Executive Director, David Lewis, explains how this affects jobs and investments.

There were particularly strong knock on effects on investment when the ratings downgrade happened, that was widely attributed by those agencies themselves. I think they used the euphemistic term 'governance issues' at the time...

David Lewis, Corruption Watch Executive Director

When South Africa underperformed other mining economies in investment terms, many blamed that on insecure property rights, but that again is a lack of clarity as to how regulations and laws are implemented.

David Lewis, Corruption Watch Executive Director

Click on the link below to listen to the full audio....

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