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‘More than R100 billion lost due to extortion construction industry’

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Some members of the construction industry say more than R100 billion has been lost due to extortion. This emerged at the annual Master Builders South Africa 2023 Congress in Cape Town.

The industry says it is grappling with a number of factors such as the decline in economic growth in the country, delayed payments from the public service, slow transformation and corruption.

President of Master Builders South Africa, Musa Shangase, says the extortion problem started in KwaZulu Natal in 2014 and has since spread to Gauteng and the Western Cape.

Source: SABC News

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