Gcina Ntsaluba
3 minute read
29 Jan 2020
6:05 am

Eradicate counterfeit goods to save the economy – experts

Gcina Ntsaluba

The value of counterfeit goods seized in Gauteng alone last year comes to R5 billion, which threatens jobs, social security, tax and poses health risks.

Law enforcement officers raid for counterfeit goods in Johannesburg, 7 August 2019, and uncovered an arms cache that included AK47 and other assault rifles. Police Minister Bheki Cele, inspected the areas where police were raiding. Picture: Nigel Sibanda

The increase in counterfeit goods on the black market has the potential to destroy the local economy and could lead to more unemployment, according to experts. This follows an announcement by the Gauteng provincial government that counterfeit goods worth R5 billion were seized in Gauteng alone last year. Paul Ramara, a partner at Spoor & Fisher, who specialise in trademark litigation and anti-counterfeiting, said counterfeiting affects our economy as it leads to loss of customs duties, value added tax and the normal tax that would have been paid on the goods. “This has an impact on the economy in the...