Spotlight on South Africa’s “thriving” black market after partial lifting of alcohol ban

  • 📰 IOL
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Canada News News

The damage that South Africa’s black market has had on the economy comes into the spotlight on Wednesday. DailyNewsSA

Durban - THE damage that South Africa’s black market has had on the economy comes into the spotlight on Wednesday.

In SA, however, the bans on the sale of alcohol and tobacco products also gave the illicit trade an opportune environment in which to thrive, much to the detriment of livelihoods, lawfulness and tax revenue collection. “The black market covering everything from cigarettes to alcohol to textiles is becoming a real nightmare, and Lockdown highlighted how criminals are making money. Sars puts the cost of SA's illicit economy at R100 billion a year. That's over R250 million a day.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

DailyNewsSA what is this shit called 'black market', it is a niche market. just because main stream business cannot reach it, it is labelled black. South africa will not increase the SMME unless they kill this term 'black market' why is it called black market anyway.... 🤬🤬🤬

DailyNewsSA Thank the ANC for that

DailyNewsSA What's news in South Africa

DailyNewsSA How many ANC ministers or family members of ministers own cigarette companies or supplied alcohol?

DailyNewsSA The cause of the booming black market? The inept and corrupt MYANC regime. Time to DrainTheSwamp ANCmustFall LockTHEMup

DailyNewsSA My greatest wealth is created by being an early investor via bitcion Making that investment requires believing in something before the majority of people understand it You will be mocked, ridiculed & criticized for your non-consensus action lisaMakT It is absolutely worth it!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in CA

Canada Canada Latest News, Canada Canada Headlines