Counterfeit and illicit trade is estimated to account for as much as 10% of the SA economy.
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GUEST – Zinhle Tyikwe – CEO of the Consumer Goods Council of South Africa (CGCSA)
Counterfeit and illicit trade is one of the biggest threats to economic order and growth as well as to the fiscus as it thrives on counterfeit and fake goods, and is currently estimated to account for as much as 10% of the SA economy. The most counterfeited goods in SA include alcohol, cigarettes, footwear, clothing, leather goods, electrical equipment, watches, medical equipment, perfumes, toys, jewellery and pharmaceuticals.
Counterfeit and illicit trade is one of the biggest threats to economic order and growth as well as to the fiscus as it thrives on counterfeit and fake goods, and is currently estimated to account for as much as 10% of the SA economy. The most counterfeited goods in SA include alcohol, cigarettes, footwear, clothing, leather goods, electrical equipment, watches, medical equipment, perfumes, toys, jewellery and pharmaceuticals.